Haven't posted in quite a while. Suppose you have a big, complicated question that you're not sure of the answer to, and you want to seek an adviser to guide you. One kind of adviser is someone whose opinion, by your lights, constitutes strong evidence regarding the answer; on the...
I think I basically get the idea behind prediction markets. People take their money seriously, so the opinions of people who are confident enough to bet real money on those opinions deserve to be taken seriously as well. That kid on the schoolyard who was always saying "wanna bet?" might...
A while back I saw an interesting discussion between U.S. Supreme Court Justices Stephen Breyer and Antonin Scalia. Scalia is well known for arguing that the way to deal with Constitutional questions is to use the plain meaning of the words in the Constitutional text as they would have been...
A little while back I wrote a post arguing that the existence of abusive terms in credit card contracts (such as huge jumps in interest rates for being one day late with a payment) do not satisfy the conditions for standard economic models of asymmetric information between rational agents, but...
Economists are very into the idea of mutually beneficial exchange. The standard argument is that if two parties voluntarily agree to a deal, then they must be better off with the deal than without it, otherwise they wouldn't have agreed. And if the terms of that deal don't harm any...
International humanitarian law proscribes certain actions in war, particularly actions that harm non-combatants. On a strict reading of these laws (see what Richard Goldstone said in his debate with Dore Gold at Brandeis University here and see what Matthew Yglesias had to say here), these actions are prohibited regardless of...
The other day I went to get some productivity-enhancement M&Ms from the candy machine at work. When I opened my wallet, I didn't immediately see a $1 bill. Then I looked some more and I found one, and I was happy! But of course that doesn't make any sense. If...