Michael Wellman launched a blog this week. Yesterday he made an excellent point about market efficiency. Tyler Cowen had pooh-poohed the problem of high-frequency trading. Mike set him straight and suggested an elegant solution to the problem, namely call markets. But what about the value of... »
Here are what I believe are fairly definitive answers to the sunk cost quiz questions. But of course feel free to take issue in the comments. SCENE: You have a non-refundable flight but now the opportunity to road trip with some friends to your destination has come up. Which of the following are rational... »
