02/15/01The Tragedy of the Popsicle Commons
Over-exploitation of commons resources could be avoided if the rights to commonly owned resources are assigned to individual owners.
11/28/00Taxes and Commercials, Necessary Evils?
Taxes and TV commercial take away what we could have otherwise, but are necessary to support 'free services'.
Rent control in Boston, MA has led to most apartments charging rent right up to the price ceiling. The effective rent is actually higher if under-the-table payments are included.
07/27/00Variety Is the Spice of Life?
Elizabeth Blose Edmundson
Thanks to the law of diminishing marginal utility, couples in a heated love relationship manages to divert exclusive time spent together to other higher yielding activities.
07/27/00The Waiting Game
Waiting line management employs allocational mechanisms much like those for different economic systems. All these mechanisms seek to combine equity with efficiency in allocating scarce resources.
02/25/00More Money, More Options
Fast foods are inferior goods that are used more when income is low. "Sit down" restaurant meals are normal goods that are consumed more when income is high.
02/02/00To Tax or not to Tax?
K. K. Fung
Sales tax is easier to avoid than income tax in the age of ecommerce.