If you could invent something to fulfill an economist’s dream, it would look an awful lot like a prediction market. A world where every uncertain future can be priced, hedged and insured against? Kenneth Arrow and Gérard Debreu would approve. A market mechanism to co-ordinate the decentralised wisdom of crowds, ensuring the accuracy of such prices? Adam Smith and Friedrich Hayek sought just that.
Yves here. The march towards a tyranny in the US continues apace. Below we feature a clip in which police...
A Danish pension fund, AkademikerPension, is reportedly divesting its US Treasury holdings to the tune of $100 million. Anders Schelde,...
In recent weeks, President Trump has been getting more vocal about his intention to bring the semiautonomous Danish territory of...
Yves here. This financial support program for homeless young adults is producing good early results, to the degree that administrators...
I know that hyperinflation of the US dollar seems like a remote possibility, but alerting yourself to the possibility of...
I have a new working paper with Bart Wilson titled: “You Wouldn’t Steal a Car: Moral Intuition for Intellectual Property.” ...
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