An Economic Theorist's Book of Tales

Rating:
Summary: Akerlof Entertains While Educating
Review: Beautifully simple models to explain common phenomena economically. Why do the values of used cars depreciate so much relative to new? (and why are there so many that are "lemons"). Does it make sense to use statistical indicators (e.g., be racist or otherwise biased)? When?

Lots of simple models in the spirit of Becker. A must read.

Rating:
Summary: Akerlof Entertains While Educating
Review: Beautifully simple models to explain common phenomena economically. Why do the values of used cars depreciate so much relative to new? (and why are there so many that are "lemons"). Does it make sense to use statistical indicators (e.g., be racist or otherwise biased)? When?

Lots of simple models in the spirit of Becker. A must read.