Information, Risk & Exclusion


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Screening and Signaling

Tim Harford, author of The Logic of Life and The Undercover Economist, explains asymmetric information in this short clip. Why is this a problem not just for the buyer but also for the seller? How can you show you are a peach if you really are?

Quality and Price

Dan Ariely says that we not only consciously judge quality by price, but we do it subconsciously as well, and that may give rise to a placebo effect.

Nasty Auctions

What the video below, used on the website, calls an "all-pay auction," the text calls the entrapment game. Why do people pay more than a dollar to win a dollar? What is the best strategy in this game? Why does this auction have relevance to political lobbying?

These links were checked on December 7, 2009.
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Copyright Robert Schenk