Sound Economics

Here is a scenario, which is likely to be familiar to anyone who grew up in proximity to any generation of Nintendo gaming console: You are playing Mario Kart. Whether expectedly or unexpectedly, you find yourself in first place. You keep going for item boxes, and keep receiving more or less useless things like a single mushroom (or, most recently and most infuriating, a single coin). Suddenly, out of nowhere, a blue shell hits you and you are passed by both the second and third place racers before you can start driving again. It’s not fair! Blue shells are the Continue reading Progressive Item Distribution in Mario Kart→

Do you love game theory? Do you love games? What about game theory games? Well, I’ve got just the thing for you. The Evolution of Trust by Nicky Case is an interactive simulation that shows you not only the various possible behaviors and outcomes of game theory, but how those behaviors become more dynamic with repeated interactions. It’s a really interesting look into those who cheat, those who play by the rules, and everyone in between, and who comes out on top. It takes a little while to fully enjoy the game, so try this one out when you have Continue reading A Game for Game Theory. A Game Theory Game!→

How many of us have more than one gym membership?  It’s actually quite common these days as several different forms of fitness have been created over the last 5 years. Some days, all I want to do is yoga, but others I want to do the opposite and lift heavy(essentially undoing all the yoga I did). It’s seemingly uncommon for a lifting gym to offer yoga classes, so I have another gym membership at a studio. Let me just say IT’S EXPENSIVE(especially for the college budget). With all these trendy new ways to work out, what if I want to try something Continue reading A Glance at Multisided Platforms through Classpass→

Since the beginning of the decade, the IMF and World Bank have begun to retract on their statement that the solution to solving the world’s poverty is economic liberalization of low and middle income nations. Originally implemented via Structural Adjustment Loans, these programs, beginning in the 1980’s in Sub-Saharan Africa, promoted economic liberalization via social spending cuts, tariff elimination, and subsidy removal in exchange for high-interest loans. This growth-oriented strategy was developed out of the expectations that a) “trade, not aid” was the best way to promote economic growth and b) economic growth would be equitable and all socioeconomic classes Continue reading Economic Liberalization and the Global Food Regime→

I want to thank our writers and contributors from this semester: Max, Abigail, Madeleine, Finn, and Emily! We’ll be back in the spring to bring you more news and analysis from the world of economics! EXTRA! If any students out there are interested in pursuing a one-year Master’s degree in Applied Economics and Finance, check out this program at UC Santa Cruz. Flyer HERE!

Conventional economic theories suggest that as supply and demand act in negative correlation with one another. The Giffen good defies these market forces, whereby an increase in the price of a good correlates with an increase in its consumption. The only problem is that this sort of economic behavior is rarely, if ever recorded however, University of Pennsylvania Economist, Dr. Robert Jensen, pointed out several conditions that would have to exist in order for Giffen behavior to occur in food. The first assumption is that households must be heavily impoverished, to the degree that they face regular concerns about where Continue reading Economic Food for Thought: Are we about to see the rise of Giffen goods?→