Assume your government has $1 to spend on a social safety net. You need to decide who gets what. One way is ROI–the Return On your Investment. Of course we can ask about return through non-dollar criteria. But what if…
For the next bite of a doughnut or the next try at a pumpkin slingshot, economist Alfred Marshall’s marginal analysis helps you decide whether to say yes.
This week’s economic news summary includes the diner’s dilemma and marginal analysis, property rights in outer space, the Phillip’s Curve and unemployment.
Like the tragedy of the commons, splitting a bill among friends at a restaurant involves an individual’s marginal benefit and the group’s marginal cost.
Posts Roundup Sunday 10.11.15 Why we stick with a brand…more Monday 10.12.15 The many meanings of the minimum wage…more Tuesday 10.13.15 How a drone port solves road problems…more Wednesday 10.14.15 Development surprises from a new Nobel winner…more Thursday 10.15.15 Finding disappearing jobs…more…
Phasing in a no-tipping policy, Danny Meyer will eliminate tipping decisions, raise prices, change server pay and increase what the kitchen staff earns.
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