NFL Draft Strategy

Last night, the NFL Draft took place in Nashville, Tennessee. Football fans across the country tuned in to see if their respective teams would capitalize on this next wave of young football talent. With the coveted #1 overall pick, the Arizona Cardinals selected reigning Heisman Trophy winner Kyler Murray. Murray, who has been compared to the Seattle Seahawks quarterback Russell Wilson, appears to be a promising dual threat offensive weapon for years to come. However, in the year 2005, a paper titled “The Loser’s Curse: Overconfidence vs. Market Efficiency in the National Football League Draft” was published by economist Richard Thaler. Continue reading NFL Draft Strategy

The Incoming Lombard Street Toll

Tolls in San Francisco are high and unavoidable. From most places in the bay area, the only way to get to San Francisco is to cross a bridge, and every bridge has a toll associated with it. Another thing worth noting is that according to rent reports, San Francisco is the most expensive city to live in. On Monday, a bill proposing a toll to drive down the infamous Lombard Street in San Francisco passed the Assembly and Transportation Committee in an 11-3 vote. This is monumental as the street has always been free. While Lombard Street is typically a Continue reading The Incoming Lombard Street Toll

Added Utility of More Utility Choices

This past week, I attended a business seminar on campus that discussed energy markets. The lecturer discussed what she had learned as a result of her work in this market, including how geographic location influences the type of technologies one would encounter during daily work. For me, the most interesting concept that was brought up during the seminar was how the energy market operates in the state of Texas. In 2002, the Texas Senate approved a measure that would deregulate the electricity market. This deregulation would take place over several years. As a result, 85% of Texas power consumers are Continue reading Added Utility of More Utility Choices

Long Lines at the SUB: A Market Failure Worth Addressing?

The more time we spend at UPS, the more obvious patterns of student behavior become. Among these behaviors is the congestion of the SUB at predictable times of day. As such, the following question is worth asking: Might there be an economic solution to the long SUB lines at certain times? Waiting is a cost, and economic theory has a lot to say about dealing with such inefficiencies. Consider everything that comes with getting lunch at noon. Bodies fill up the diner, all the best food options have what seems like a mile-long line, it takes longer than usual to Continue reading Long Lines at the SUB: A Market Failure Worth Addressing?

Verizon’s 5G Rollout

This past Wednesday, Verizon introduced 5G capabilities in the cities of Chicago and Minneapolis. In doing so, Verizon became the first telecommunications company to serve its customers with the new technology. Although there have been complaints about spotty service and inconsistent coverage, these appear to be only temporary delays which are expected when a new technology is introduced to the public. As Verizon and other telecommunications companies optimize their 5G capabilities, the general public will be able to utilize the technology without a hitch. 5G wireless networks will prove as tremendous improvements over current 4G technologies. In fact, estimates put current Continue reading Verizon’s 5G Rollout

The Paradox of Voting (Part 2)

We left off two weeks ago talking about gerrymandering.  I demonstrated how a non-majority group could be distributed to have the majority in groupings.  This is exactly what your state legislature does when he/she draws redistricting lines.  They obviously gerrymander for the favor of their political party, by targeting either people who voted for a given party, or demographics.  An example of this is Florida’s 5th congressional district.  This district is considered one of the most heavily gerrymandered districts in the country.  The district contains 47.69% black people which is 31% more than Florida’s general demographic.  This shows that someone Continue reading The Paradox of Voting (Part 2)

Econ of the Anti-Vaxxer

On January 25th of this year, the state of Washington declared a state of emergency because of a measles outbreak.  Following this, and previously to this, vaccinations have been a large part of the local and national conversation. I have to start this post by saying that I am a biased source in the sense that I believe everyone should get vaccinated, but I am going to try to look at this topic from purely an economic standpoint. In order for vaccinations to be effective and prevent an outbreak, the vaccination rate needs to be about 90-95%. Unfortunately, vaccination rates Continue reading Econ of the Anti-Vaxxer

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

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

Super Low at the Super Bowl

It has now been five days since the Super Bowl. The New England Patriots, led by Bill Belichick and Tom Brady, went on to beat the Los Angeles Rams to win their sixth league championship. The game, held in Atlanta, Georgia, was the lowest scoring NFL championship in league history with both teams combining for a total of 16 points. The score was not the only low point at Mercedes Benz Stadium, however. This past season, the ownership of the Atlanta Falcons decided to slash concession prices during home football games. Fans could purchase a beer for $5 and a Continue reading Super Low at the Super Bowl