Lynne Kiesling For much of the past year I’ve been thinking about experimentation and the role that experimentation plays in economic activity and value creation; my post on Jim Manzi’s book earlier this week is in keeping with my interest in this topic. When I reflect on the processes of value creation and economic change …
Economic Experimentation, Economic Growth, and Regulation Read More »
Lynne Kiesling The U.S. Olympic Committee is starting to beat the drum for the London 2012 Olympics, 36 days to go! But their long-standing aggressive enforcement of their “Olympic” trademark has alienated an unlikely group of potential Olympics fans and TV viewers: knitters. Yes, knitters (of which I am one). At the knitting social network …
Trademark Protection Gone Wrong, U.s. Olympic Committee Edition Read More »
Lynne Kiesling Felix Salmon has a very nice microeconomic analysis of a proposal for New York to lease out its parking meters and facilities to a concessionaire, with a contingent contract based on the lessee’s implementation of dynamic pricing. A sample of what makes the analysis good: The masters of variable pricing, of course, are …
More Frontiers in Dynamic Pricing: New York Parking Read More »
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 I am attending an electricity markets workshop that we are holding here at Northwestern, about which I’ll have more to say later, but for now I wanted to capture a quotation of the day (apologies to Don Boudreaux for using his meme): The difficulty lies, not in the new ideas, but in escaping …
Lynne Kiesling Some of the best environmental projects also save money. This post at The Atlantic’s Cities blog highlights urban green infrastructure such as permeable pavement projects, including a recent study finding that they can also be economical: Looking at 479 case studies of green infrastructure projects around the U.S., the report finds that the …
Green Urban Infrastructure Can Save Green(backs) Read More »
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