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Monthly Archives: March 2007

One of the classic Econ 211 lessons (it is coming) is how problems are created in markets when buyers and sellers have different sets of information at their disposal. Economists call this situation “asymmetric information”. An important example is insurance markets. First, the background … Imagine there are only two types of drivers – “risky” […]

It seems that New Orleans Mayor, Ray Nagin, is at it again. If you haven’t noticed, he recently told a group of publishers that he believes that there has been some plot to change the racial makeup of New Orleans. Sure, the proportion of the city’s population that is African-American has declined. Let’s take a look […]

I know this article is old, but I hate it when people write articles about how people don’t understand probabilties when they themselves don’t understand probabilities. Plus, I love Deal or No Deal. If you are not familiar with how the shows work, click here for my first effort on the show. Here is an […]

We know that when crime makes residents feel less safe, they often move away. This has certainly been the history of New Orleans over the last 30 years, with decade after decade of population loss. New Orleans was once a city of about 600 thousand. By 2000, the population had fallen to about 450 thousand. […]

A progressive measure that came to modern democracies in the last part of the 1800s was the secret ballot. If employers, landlords and others who held power could see how you voted, then they could retaliate if you did not support “their guy.” Imagine what it would be like if the local elected sheriff or […]

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