Posts Tagged ‘cost’

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Opportunity Cost: Google Doodles

    Jun 16, 13 • 829 Views • No Comments

    How could a Google Doodle cost $268 million? For the Les Paul Google Doodle (below), the design and construction, bandwidth, server space–all land, labor, capital–could have totaled close to $15,000. But, let’s add some economic thinking. A......  [read more]

  • To Minimize Hospital Bacterial Infections, People Need to Wash Their Hands

    Negative Externalities: The Unexpected Economics of Hand Washing

    Dec 18, 12 • 507 Views • No Comments

    Sometimes economics can involve a lot more than money. My local hospital is engaged in a hand washing campaign. The problem is that physicians ignore the mandate, even more than nurses and other hospital personnel. Yes, a doctor is busy and a sink might not......  [read more]

  • How much should cities plan for the storm of the century?

    Storm Warnings

    Oct 28, 12 • 331 Views • No Comments

    Some thoughts today about predicting natural disasters. Weeks before 308 people perished in L’Aquila from an earthquake, a government commission proclaimed the chance was slim that a disaster would occur. It did happen and now, the 6 scientists and......  [read more]

  • Singapore's Expensive VW Passats

    Singapore’s Pollution Solution

    Sep 25, 12 • 447 Views • No Comments

    When a country’s economy is ranked the 2nd freest in the world, how do they manage auto congestion and pollution? By auctioning a limited number of vehicle permits, Singapore makes owning a car very expensive. A VW Passat in Singapore could cost as......  [read more]

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    Standing In Line

    Apr 15, 12 • 613 Views • No Comments

    Walking along 56th Street in NYC, maybe a half block before 5th Avenue, I always see people on line. (New Yorkers say on line. Almost everyone else says in line.) They are waiting to enter Abercrombie & Fitch. Usually we associate an economic cost with a......  [read more]