Lynne Kiesling It’s not exactly “markets for everything,” but it’s a close cousin … cozy pajamas that allow you to run around the house with gay and reckless abandon and still be cozy are a fond childhood memory of most people. In fact, in a former job I had a boss who, when we were … More Big Feet PJs … More Big Feet PJs

Lynne Kiesling I’ve always wondered why there’s often a long stretch between buses, and then three show up at the same time. I just attribute it to the same kind of dynamics that you find in fractals that lead to “focal points”, but a November NBER working paper by Johnson, Reiley and Munoz use that … More Buses Travel in Packs … More Buses Travel in Packs

Lynne Kiesling David Friedman recently had an interesting externality exercise post: If actions I might take would provide benefits for other people which I am not in a position to charge them for, I have too little incentive to take them. If my actions would imposes costs on other people which I am not required … More Externality Accounting … More Externality Accounting