Interesting feature piece from the WSJ on the end of so called easy oil – that is oil of usable quality that simply gushed out of the ground. No one suggests that the Gulf nations are running out of oil. Heavy oil, although difficult to pump, is abundant. The Middle East alone is believed to…
Donald MacKenzie explores the world of high frequency trading in the London Review of Books What goes on in stock markets appears quite different when viewed on different timescales. Look at a whole day’s trading, and market participants can usually tell you a plausible story about how the arrival of news has changed traders’ perceptions…
Some interesting thoughts on why we don’t take care of ourselves as we get older. Abstract Many adults have an overly pessimistic view of old age because they fail to correctly predict their ability to hedonically adapt to old-age health related problems. A standard utility model where the marginal utility of health is higher at…
Given that markets will open tomorrow because of the somewhat obvious fact that the world did not end it is worth looking at the Dow from two different perspectives. As you can see from the chart below the long term trend of the Dow is roughly intact. You can see that I am not a…
I must have slept through armageddon either that or it didnt happen. This entire little event that gained far more oxygen than it was worthy of proved that humans are fundamental irrational and that those with imaginary friends are even more irrational. In any sane and compassionate society anyone who claims to have voices in…
Apropos the coming end of the world tomorrow the Center for Disease Control and Prevention has produced a few guidelines for the coming zombie apocalypse
Tim Harford who does a wonderful series of podcast on the BBC – all of which are available on itunes talks about finding economic lessons in unusual places.
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