Understanding Principal-Agent Problems
You're young and lazy and you've been hired for a summer job at the record store downtown (remember those?) The boss' »
Thinking at the Margin
Economists often talk about "thinking at the margin" -- you might even hear them say "everything happens at the margin." What does »
Second Best Equilibrium
In economics, most of our models of the market/economy assume some stylised but ultimately unrealistic assumptions. For example, they assume perfect information, or risk neutrality, »