Posts Tagged ‘price’

  • Ecuador's Rain Forest Tree Frog

    What is the Price of a Rain Forest?

    Mar 12, 14 • 827 Views • No Comments

    Chevron said that $40 million was sufficient. Attorneys representing 47 villagers from Ecuador’s rain forest considered $19 billion. And now, we have several court decisions. Our story begins in 1967 when Texaco discovered oil in Ecuador. At first using......  [read more]

  • demand and supply choclate chip cookies

    Demand and Supply: Chocolate Stories

    Sep 24, 13 • 4158 Views • No Comments

    Because the price of cocoa is soaring, we might soon be paying more for cookies. But first, a bit of history. A Chocolate Butter Drop Do Cookie crisis in 1930 is the reason we have chocolate chip cookies today. One evening, Ruth Grant Wakefield, the......  [read more]

  • Dynamic Pricing for Tickets Displays the Power of Prices

    Big Ten Tickets

    Dec 9, 12 • 751 Views • No Comments

    For $75 you can see all 9 Big Ten Conference basketball games…Maybe. Here’s the story. If you buy a Golden Ticket online from the Minnesota Golden Gophers, you can attend up to 9 Big Ten games but only if Minnesota wins every time you attend. If......  [read more]

  • black_000016714600XSmall

    Getting More Power

    Jul 8, 12 • 559 Views • No Comments

    After Hurricane Irene last August, I lost my electricity for 8 days. Then, only weeks later, after a surprise snow storm, all over again, 8 days without power.  Facing a similar plight last week, economist Arnold Kling asked why the lights were out for so......  [read more]

  • Frittata with spinach and onion

    Should We Buy Local?

    Jun 21, 12 • 648 Views • No Comments

    I just finished an omelette with eggs and spinach from a nearby farm. It tasted good, I supported local business and I helped the environment. You could say that I had my cake (but it was spinach) and ate it too. But, here is the surprise. If you care about......  [read more]