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Art Carden: May 2013

An Author Archive by Month (18 entries)
An economist who has published in the American Economic Review has written a paper that s/he thinks is his/her best work--estimating a probability of 1/3 that it lands in the AER. The anonymous author is offering to sell the paper... MORE

If I Had a Billion Dollars: My Answer to Bryan's Question

Central Planning vs. Local Knowledge
Art Carden
Bryan asked his PhD students how the government should spend $1 billion most efficiently (in the Kaldor-Hicks sense). He posted the best answers here. I agree generally that subsidizing decisions to have kids would be a good use of the... MORE

Here are highlights from the UEFA Champions League match between Bayern Munich and Borussia Dortmund from a few days ago. There is no Great Stagnation.... MORE

There were, once again, some truly excellent comments on my last post, in which I offered my answers to the questions blockquoted below. Furthermore, Jeanne Hoffman at Heels First Travel--a lawyer by training and a member of the IHS staff--also... MORE

Coase on a Plane: My Answer

Cost-benefit Analysis
Art Carden
Thanks to everyone who offered excellent comments on my last post. Most people were thinking about it the way I do. To recap, here were the questions I someday want to ask on an exam or in a job interview:... MORE

Coase on a Plane, or, an Idea, Recycled

Microeconomics
Art Carden
I agree with co-blogger Bryan that most voters are rationally irrational. My sense is that there are also a lot of voters and people in positions of influence who know just enough economics to be dangerous. As Steve Horwitz and... MORE

Commuting, Chronic Stress, and Costs That Are Harder to See

Behavioral Economics and Rationality
Art Carden
This morning, I tweeted the following: Spend extra $ to cut your commute. I read (in @rdobelli's book?) that we underestimate commuting costs.— Art Carden (@artcarden) May 22, 2013 We've tried to model it. When we lived in Memphis, we... MORE

Updating My RSS Feeds: What Am I Missing?

Cost-benefit Analysis
Art Carden
With the end of the semester and the coming demise of Google Reader, I'm going to take an inventory of my already-thin list of RSS feeds and add and subtract as I deem necessary. Since crowdsourcing is the hip, "in"... MORE

Values Every Scholar Should Adopt

moral reasoning
Art Carden
Jacob Levy directs readers to the Mission Statement of the Freedom Center at the University of Arizona. I agree that these are values to be emulated. While I sometimes allow the perfect to become the enemy of the good, I... MORE

Look Out the Window, or, Stop and Smell the Bacon

Energy, Environment, Resources
Art Carden
Ronald Coase famously advised economists to "look out the window" every so often. It's advice I (try to) take to heart. Here's an example. On Monday afternoon, I was standing behind our building waiting for a few people and "enjoying"... MORE

Recent Reading and Coming Attractions: Stats, Stats, and More Stats!

Books: Reviews and Suggested Readings
Art Carden
Here's a quick update to yesterday's post on what I've been reading lately. I had to give to exams this morning, so that gave me plenty of time to read. If you're looking for something to take to the beach... MORE

"Social Welfare Groups" Defined in the Process of Their Emergence

Central Planning vs. Local Knowledge
Art Carden
One of my favorite essays in the social sciences is James Buchanan's very short "Order Defined in the Process of its Emergence." It probably has the highest ratio of insight-to-text of any article I've ever read, and I come back... MORE

Recent Reading

Books: Reviews and Suggested Readings
Art Carden
I tell people I have the best job in the world: I get paid to read, write, think, and talk about things I find absolutely fascinating. Here are a few things I've read recently (or that I'm reading currently): 1.... MORE

Kling on Clans, North on States

Economic History
Art Carden
I just read Arnold Kling's Featured Article on Mark S. Weiner's The Rule of the Clan. On the strength of the review I bought the book. Here's Kling's summary of Weiner: 1. A decentralized order is possible. Indeed, it is... MORE

Facebook: So Long. Sort of.

Behavioral Economics and Rationality
Art Carden
In response to precipitous increases in the opportunity cost of my time and my wish to Avoid News, I've scaled back my presence on social media. I still maintain Economics in One Meme and a still-nascent "professional" Facebook page, where... MORE

F.A. Hayek would have been 114 years old today. To celebrate, here's a set of videos in which Hayek is interviewed by, among others, Axel Leijonhufvud (!), Armen Alchian (!!), and James Buchanan (!!!). Or, if you prefer the written... MORE

This is a teaser for a forthcoming post. The scene: Chuck E. Cheese's in Vestavia Hills, Alabama, where my two-year-old and my four-year-old are nibbling like birds on slices of the large pepperoni pizza we ordered. This was not what... MORE

Today is May Day. Never Forget. Never Again. On Saturday, I spent the day in a seminar room with a group of students from Samford and Birmingham-Southern College (plus Paul Cleveland, an economist from Birmingham-Southern and author of Unmasking the... MORE

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