The spiritual leader of this blog talks about the Blackberry phones:

My claim in this post is that the Law of Large Numbers (LLN) “guarantees” that the information in Wikipedia is reliable.

LLN is a theorem in probability that states that a random variable will converge to the population (finited) expected value when the number of observations increases. What am I talking about?

Well, let’s use [...]

I decided last week – as a rational choice – that I will pay the old man that works in the guest house I’m staying at 5 Rupees per day for bringing me the newspaper (The Hindu) every morning to my door. It is a good deal for both of us. The newspaper costs 3.5 [...]

Economic theory suggests than in perfect competition, firms are “price-takers”, which means that they cannot – at least in the long run – set prices, but they rely on the prices set at the market (according to supply and demand of each good). So given the prices, the firms decide on the quantity they should [...]

In Economics, the term “Free Rider” refers to a situation when an individual “consumes more than their fair share of a public resource” (from Wikipedia).

I’ve found repeated evidence of Free Riding in Thanjavur:

These pictures are taken by me in the back seat of two different auto rickshaw that took me to the office [...]

These are the main headlines in Thanjavur’s newspapers today – it says: “KING OF POP, MICHAEL JACKSON, PASSED AWAY”

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My good friend and colleague Rene Pineda wrote his unique methodology to get an A in a Macro Exam. Here is the transcript of his methodology:

How I’m going to get an A in Macro

I will study really hard. Of course, I won´t understand much and I will inmediately forget everything I learned.
Then, I´ll use Rene´s [...]

As I wrote in a previous post, I’ll be spending this summer in India doing research in a micro-finance project. So, as promised, I will use this blog to keep you updated about my experiences and some of my findings during the whole summer.

So first thing first. This experience will be possible thanks to the [...]

I’ve been repeatetly arguing that this is a blog about nothings. However, as a good economist, we must test for this hypothesis.

My tool to test it is the website http://www.wordle.net/ which created this word cloud of my blog. The results are here:

Clearly, equilibrium is an important word for me. However, I think [...]

I’ve been living already for about 8 months in the United States. More specifically in Cambridge, MA. It has been an exciting experience and I must say that I like the country and the American people as well.

I wanted to share three things I’ve learned about America, which relates to the way people do business [...]