Culture & Ethics
The Talmud and the Endowment Effect
The endowment effect is one of the most important aspects of behavioral economics. It postulates that losing something is worse than gaining something is good. One can easily see it applied to various aspects of property law: it is worse to lose a piece of property that you think is yours than to gain a …
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CONTINUE READINGA New Feast for Environmental Policy Wonks
The Winter 2013 issue of the always-invaluable Journal of Economic Perspectives is just out, and it is a treasure for environmental policy people. It features a symposium on tradeable pollution permits, with contributions from among others William Pizer and Robert Stavins. It not only reviews the history of tradeable permits in air pollution, but also …
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CONTINUE READINGLiterally Trashing the Environment
No, not another rap on Joe Biden. The world literally wastes an awful lot of food, notes the International Herald Tribune: Between 1.2 billion and 2 billion tons of the 4 billion tons of food produced around the world every year never gets eaten, according to a new survey by a group of British engineers. …
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CONTINUE READINGStephen Colbert is a National Treasure
Like Tom Tomorrow. Click here for his must watch clip from Monday’s show. http://www.colbertnation.com/the-colbert-report-videos/423268/january-28-2013/the-word—the-new-abnormal Colbert nails conservative views on climate change. First, deny. Second, when the facts belie denial, accept but refuse to acknowledge human contributions. Finally, throw up your hands and say that even if it’s human-caused we can’t do anything about it …
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CONTINUE READINGD.C. Circuit’s biofuels mandate ruling
The D.C. Circuit issued an opinion last Friday in American Petroleum Institute v. EPA, concerning EPA’s biofuels mandate. (N.Y. Times; slip opinion). The part of the mandate at issue required refiners to incorporate higher levels of cellulosic fuel into transportation fuel. Cellulosic biofuel is in the class of “advanced biofuels” that could actually offset greenhouse gas …
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CONTINUE READINGThe NAACP and the Politics of Race and Regulation
There’s a bit of a kerfuffle going on about the NAACP’s defense of over-sized soft-drinks. In an amicus brief challenging New York City’s new ban on the super-size, the NAACP (joined by the Hispanic Federation and an association of Korean grocers) takes a surprisingly libertarian stance against government regulation. It laments that the ban is …
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CONTINUE READINGThe Rise of the Low Carbon Consumer City
Matthew Holian and I have just released a new NBER Working Paper. The “big idea” is that similar to a REESE’S Peanut Butter Cup we merge together two separate economics literatures. Glaeser and I have written about low carbon cities in the United States and China. Glaeser has published on “consumer cities” and …
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CONTINUE READINGHow the EPA Saved America
If you don’t follow political blogs, you may not have noticed Kevin Drum’s outstanding story about how the decrease in crime over the last 20 years can largely be attributed to the sharp drops in lead ingestion. When I first heard the theory, I thought it was too good to be true, but Kevin’s story …
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CONTINUE READINGSeaWorld Doesn’t Care THAT Much
As the father of an eight-year-old, I am painfully aware of the attractions of charismatic megafauna. Over the weekend, I took Rose to SeaWorld, pretty much the capital of charismatic megafauna, for an overnight with her YMCA youth group. We slept with the penguins, and saw lots of other — well, charismatic megafauna. The highlight …
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CONTINUE READINGThe Last Rockefeller
Senator Jay Rockefeller (D-WV), the current chair of the Commerce, Science, and Transportation Committee has announced his retirement. Rockefeller is 75, and faced a tough re-election fight in West Virginia, which has gone from being the state of John L. Lewis to the state of Mitt Romney — it went for Romney last year by …
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