Monthly Archives: May 2014

Real incentives, real impacts

From The Daily Beast by Daniela Drake: Consider how this plays out in real life as opposed to a think tank. A hard-working doctor (of any race) has rendered careful, considerate care to a complicated patient. Yet a relative who gets the patient satisfaction form in the mail who might be pissed off at, say, the hospital parking fees—or maybe… Read more →

The best description ever…

“In the LCPSIM [least-cost planning simulation model], a priority-based objective, mass balance-constrained linear programming solution is used to simulate regional water management operations on a yearly time-step…” From some documentation I am reading – I love phrases like this because they try to mean so much in such a tiny amount of space. Read more →

Forgetting basic economics

A post 5/19/2014 at the Center for Economic and Policy Research: Summers’ Review of Piketty’s Book Gets Private Equity Wrong Article by Eileen Appelbaum and Rosemary Batt (Click title to see the article). My Response: This article is premised on the ideological assumption that PE firms are evil parasites. Summers is not wrong, managers are paid according to their ability to… Read more →

Checking your (my) privilege.

With all of the discussions about privilege, I recently red Peggy McIntosh’s 26 points about white privilege – those things in our daily lives that are easier because I am white.  With a few exceptions, they are drivel… She assumes her position to be that of everybody’s position.  Here are the points and my responses to them.  (Find the paper… Read more →

Asymmetric Information, Incentive Compatibility, and Participation

From the Wall Street Journal, May 12, 2014: How to Trap the Guilty and the Gullible, by  Steven Levitt and Stephen Dubner (you may recognize them at the Freakonomics authors). The economics of information are fascinating, particularly because many managers forget that information asymmetries create incentive disparities between principals and agents.  Revealing these is tricky, but much less expensive than… Read more →