Tag Archives: efficiency

Toilet troubles

Have you heard of Professor Jay Pil Choi, of Michigan State University’s Economic Department? He’s the author of weighty contributions to economic academia such as “Recent Developments in Antitrust”, “Tying in Two-Sided Markets with Multi-Homing”, and “Up or Down? A Male … Continue reading

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Sinisterly efficient

Efficiency. How economists love it. If you have microeconomist friend (or perhaps even a macroeconomist), you’ll probably already know about how amazing efficiency is. Efficiency. Economists like efficiency so much, they have three different names to describe three different kinds of exciting … Continue reading

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Soap, bubble and shop

 Why do firms in some markets engage in apparently pointless and costly activities? And why doesn’t vigorous competition drive out inefficient practices? The other day, a friend came over for dinner, kindly offered to wash up, and was overwhelmed by the … Continue reading

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