oh, chicago

Who runs Chicago?

This article discusses the shift of power from manufacturing to the industries of finance, insurance and real estate. The authors surface some interesting history and facts that make this worth sharing. Unfortunately, the authors demonstrate a poor grasp on economics, […]

retail therapy

Brandless shuts down operations

The best-funded online retailer that aimed to cut out brand premiums and sell everything direct-to-consumer has shut down. They had raised $290 million, mostly from SoftBank, but couldn’t get the economics of the business to work. Some of the investment […]

better doing

Daniel Kahneman: Putting your intuition on ice

The Nobel laureate spoke with Shane Parish (Farnam Street) and the conversation is juicy. One idea came through loud and clear: the master of behavioral economics thinks changing behavior is a long shot because avoiding cognitive biases is really really […]

better doing

The problem with behavioral economics. 

Australian economist Jason Collins equates the 165 cognitive biases with a broken model of the 16th century earth-centric universe. Basically, he makes the point that these biases are not “malfunctions” but are rather more simply explained by a better model […]

fun facts

The economics of bank robbery. 

“Bank robberies are great case studies for the economics of crime. They’re premeditated affairs in which a perpetrator has evaluated (consciously or not) the rationality of proceeding. The gains are quantifiable. They also come with a built-in dilemma: every minute […]