Artificial Scarcity in ABC’s “The Bachelor”

ABC’s long-running hit television series The Bachelor (and sister show The Bachelorette) can show a few different principles of economics. One very basic economic principle on hand is artificial scarcity. The premise of the show is to introduce one attractive, single man to thirty attractive and single women, who are all potential romantic partners for the bachelor. Then over the course of several weeks the producers of the show send the bachelor and his assembly of potential romantic partners on competitive “group dates” and intimate “one-on-ones”, where the women compete with each other for the Bachelor’s affection. This all culminates Continue reading Artificial Scarcity in ABC’s “The Bachelor”

Thesis Corner: Henry Gardella

This is an interview with senior, Henry Gardella (HG), about his senior thesis “The Alliance of Youtube and Patreon.” B: To begin with, what is your thesis?   HG: What do you mean what is it called, or what…   B: Basically what is your thesis called and what is it about?   HG: So my thesis is called the Alliance of Youtube and Patron. If you don’t know what patreon is, it is a crowdfunding platform that allows content creators to make money to produce their content. Basically, this is really hard to explain…   B: Take your time Continue reading Thesis Corner: Henry Gardella

China’s Plan to Groom the Next Cristiano Ronaldo

With China looking to capitalize on its national consumerism, Chinese investors are beginning to dump money into none other than the worlds greatest competition; football (not the american kind). Xi Jinping aims to raise the bar in terms of economic standards on the pitch saying that his dream for Chinese soccer is to make its teams “among the world’s best”. Here lies the barriers to that outcome. Of China’s 1.386 billion people, a majority live in cities, renowned for their extremely dense populations. For this reason, space to manufacture soccer fields and stadiums is not readily available in the areas Continue reading China’s Plan to Groom the Next Cristiano Ronaldo

Thesis Corner: Ellen Knowles

Welcome to Thesis Corner with Ellen Knowles! Q: What was your thesis about? For my thesis, I looked at how homeowners are able to apply pressure on local governments to restrict the quantity of housing through zoning. From there, I looked at how this affects the rental prices of multi family units. Q: How did you pick your topic? I heard about this issue while listening to a Planet Money podcast and found it interesting. Q: What were your results? I found that there was a positive correlation between the amount of political pressure homeowners place on local governments and Continue reading Thesis Corner: Ellen Knowles

Gearing Up for 2020: The Median Voter Model

Though we are still more than a year out from the 2020 presidential election, candidates are beginning to kick their campaigns into high gear and political tensions are ever rising. There are constantly headlines surrounding who has entered the race, who has dropped out, and articles that seem to make predictions about where the peoples’ votes will go and how candidates will run their campaigns. One of the biggest questions that voters will get the chance to answer is how the left is going to fare, given more extreme candidates, such as Bernie Sanders, have entered the running. One way Continue reading Gearing Up for 2020: The Median Voter Model

Metropolitan Market, Supermarket Layouts, and Impulse Purchases

During a lecture about food, my French professor mentioned that Metropolitan Market’s displays make it difficult for her to avoid spending more than necessary at the grocery store. I too am guilty of purchasing many impulse buys at the Met, especially if I shop while hungry. The bakery greets guests at both doors, the cheese aisle sits against the entrance wall, and customers must pass the hot foods and already prepared meals in order to reach the produce, meat, and seafood. The Met creates the perfect atmosphere for impulse buys. Grocery stores lay out products in configurations that optimize consumer Continue reading Metropolitan Market, Supermarket Layouts, and Impulse Purchases

Every Luxury Must Be Paid For

As Spring Training for the upcoming MLB season continues, some marquee free agents were recently signed to teams looking for future success. Manny Machado signed a 10 year contract for $300 million with the San Diego Padres. At the time of the signing, it was the largest contract ever signed by a free agent in any U.S. sport. However, he did not hold this record for long. Eight days later, another free agent player made history with the new largest free agent contract in U.S. history. Bryce Harper, now with the Philadelphia Phillies, signed for 13 years for $330 million. Major Continue reading Every Luxury Must Be Paid For

The Key to Ending Climate Change: Making it Profitable

While taxation would be a key tool in enabling the government to curb the carbon emissions of the US, there will be lots of pushback. History shows that Americans are always resistant to new taxation, so the process of creating successful pollution controls could take some time. For some, time is of the essence and alternatives to taxes are being employed. For the Ski industry, climate change is the biggest threat to their ongoing profitability. It has been projected that the climate will change so significantly that skiing will no longer be possible in the Colorado Rockies as soon as Continue reading The Key to Ending Climate Change: Making it Profitable