Comments for Economics and Mechanisms

Comment on Efficiency: A Term to Use Sparingly by James Bailey

James Bailey — Fri, 03 Sep 2010 02:26:53 +0000

"stopping him would not be a Pareto improvement as long as it would drop him to a lower indifference curve"
My mistake, I was thinking of a potential Pareto improvement. The Romans could compensate him with higher taxes but this introduces transactions costs and could encourage Nero to invent antisocial desires in order to get more transfer payments.

Comment on Efficiency: A Term to Use Sparingly by ddiamantaras

ddiamantaras — Wed, 01 Sep 2010 01:37:31 +0000

Well, "efficient enough" does not literally make sense; an allocation either is Pareto efficient or it is not. Also, no matter how other Romans felt about Nero's playing, stopping him would not be a Pareto improvement as long as it would drop him to a lower indifference curve. Thanks for the link to Lansburg's piece.

Comment on Efficiency: A Term to Use Sparingly by James Bailey

James Bailey — Tue, 31 Aug 2010 21:23:09 +0000

Steve Landsburg responded to Reinhardt's piece here: http://www.thebigquestions.com/2010/08/30/efficie...
Reinhardt responds back in the comments section.

Stopping Nero's playing would be efficient because Romans experienced disutility from knowing he played. Perhaps insisting he play secretly would be more efficient though.

Comment on LaTeX by tex editor

tex editor — Tue, 23 Mar 2010 00:21:37 +0000

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Comment on Economists cannot predict by ddiamantaras

ddiamantaras — Mon, 15 Mar 2010 20:15:38 +0000

Sorry it took so long to approve your comment. I was away for some days and did not have my Intense Debate credentials with me:( I will check out the Montier book. Thanks for the good words and the suggestion about the Kenneth part. I am pretty sure it was not Kenneth Arrow, at least.

Comment on Economists cannot predict by Pat Bradley

Pat Bradley — Fri, 12 Mar 2010 20:53:28 +0000

I think you are correct about the Kenneth part of the quote. But there's a certain glibness about it.. I'm going to forecast its John Kenneth Galbraith as the source. On the topic of poor forecasting, you may be interested in James Montier's "The Folly of Forecasting: Ignore All Economists, Strategists, and Analysts." The thesis: people stink at forecasting. Why? Overconfidence. What's your view of the prediction markets like Intrade, for example? The site is nteresting. I hope you generate readers. I'll keep checking back.

Comment on What chess champion Gary Kasparov can teach us by uberVU - social comments

uberVU - social comments — Sat, 20 Feb 2010 22:18:56 +0000

Social comments and analytics for this post…

This post was mentioned on Twitter by ddiamantaras: Published a new blog post: What chess champion Gary Kasparov can teach us http://bit.ly/cB1L7Z #mechanismdesign…

Comment on Bacteria that channel Elinor Ostrom by Cooperation and cheating among bacteria « Knowledge Problem

Cooperation and cheating among bacteria « Knowledge Problem — Wed, 18 Nov 2009 11:51:17 +0000

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Comment on The pundits’ dilemma by The “superfreakonomics” brouhaha continues « CogiDDo ergo sum

The “superfreakonomics” brouhaha continues « CogiDDo ergo sum — Sun, 18 Oct 2009 19:39:29 +0000

[...] Yglesias, Mark Liberman, Mark Thoma. My elaboration of the last two is in my more scient-y site. It has some thoughts spurred by Liberman and Thoma’s posts. Possibly related posts: [...]

Comment on Lecture Notes on Social Choice Theory by ao

ao — Tue, 01 Sep 2009 16:12:12 +0000

Dr.D.,

You should consider uploading your lecture notes for Math for Economists II as well.