Lynne Kiesling Think consciously about a decision you contemplated recently. As you were weighing your options, how much did you really know that you could bring to bear, definitively, on your decision? Was the outcome pre-determined, or was it unknown to you? For most of the decision-making situations we confront regularly, we don’t have full …
Experimentation, Jim Manzi, and Regulation/deregulation Read More »
Lynne Kiesling [NOTE: The following is an economist’s musings about philosophy, so if my philosopher friends can flesh out my argument and identify errors I’d be grateful. Also, this post is meant for you if you are interested in electricity regulation, so don’t just mark it as read because it’s philosophy ;-)! –LK] Although I …
Lynne Kiesling According to this Ars Technica story (and a linked Bloomberg article), Facebook is going to offer a new advertising model to its potential advertisers: a spot auction for real-time ads based on changes in current events or time-sensitive things like sporting event results. The service, called Facebook Exchange, will use partnerships with other …
Frontiers in Dynamic Pricing: Spot Advertising Auctions Read More »
Lynne Kiesling It’s no secret that Elinor Ostrom has always been a role model for me; the KP archives contain many references to her work and accomplishments from both of us, and much of my thinking in my own work rests on ideas and inspirations that I have drawn from her work. Lin passed away …
Lynne Kiesling Steve Horwitz has a great Freeman column today, inspired by reading Dan Ariely’s Predictably Irrational. Steve starts by pointing out that the definition of “rational” is not uniform, which matters a great deal because of the theoretical, empirical, and policy implications one draws from the definition used: People act “irrationally,” in the sense …
Horwitz: Do Free Markets Require “Rational” Actors? Read More »
Lynne Kiesling The ever-interesting Alexis Madrigal notes that Motorola and RIM called; they want to go back to 2004 and try again. Do they ever! Remember the first RAZR flip phone (in pink, even!) and the power image associated with being tethered to your Crackberry? And the profits for Motorola and RIM that accompanied them? …
Got Your Creative Destruction Right Here, and What a Gale of It Read More »
Lynne Kiesling As a follow-up to my earlier post on Jonathan Adler’s first two guest posts at The Atlantic: Jonathan has helpfully compiled links to all five of his guest posts in one handy-dandy location. Here they are: – Property Rights and the Tragedy of the Commons – Property Rights and Fishery Conservation – How …
Links to Adler Guest Posts at The Atlantic, and a Related Stavins Post Read More »
Lynne Kiesling Case Western law professor Jonathan Adler (someone to whom I link frequently here) is guest blogging for Megan McArdle at the Atlantic right now, and he’s sharing some valuable insights from his research in environmental and administrative law. His first post lays a foundation by summarizing and analyzing Garrett Hardin’s seminal “tragedy of …
Lynne Kiesling I just heard a potential sign of the impending Greek exit from the Euro: this is the first time I can remember in 25 years of listening to NPR that they have included information in the news update about the day’s trading on the stock markets in France, Germany, and other European countries. …
Lynne Kiesling It’s a little disturbing how often I feel like Steve Horwitz has inhabited my brain and articulated my thoughts, and I am really glad that he does, because he is much more articulate in doing so than I am. His Freeman column today is an example, highlighting Hayek’s vision of a tolerant and …
Markets Promote a Tolerant and Pluralist Civil Society Read More »
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