Archive for July, 2009

High-Frequency Trading and the Robot-Led Holocaust

Friday, July 31st, 2009
High-Frequency Trading and the Robot-Led Holocaust

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... »

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Beating a Sunk Horse

Wednesday, July 1st, 2009
Beating a Sunk Horse

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... »

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