tag:blogger.com,1999:blog-7169279.post5530265153965239895..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: The perpetual motion of supply and demandDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7169279.post-45494905144455220082015-02-28T18:35:49.555-07:002015-02-28T18:35:49.555-07:00Cam: 50/50.
Part of what you're supposed to g...Cam: 50/50.<br /><br />Part of what you're supposed to gather at the MBA level is that we don't "decide" whether something is an inferior good. Instead, it's a result of a statistical measurement from a widely used technique. So I think we should believe the numbers (although the ones cited in this article are from before the boom in chicken consumption in the last quarter Dave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-6281508327602531252015-02-28T18:32:19.249-07:002015-02-28T18:32:19.249-07:00Sebastian: 50/50
You are right that elasticity, w...Sebastian: 50/50<br /><br />You are right that elasticity, while interesting, is not technique that readily extends itself to the network of connections often seen in the real world.<br /><br />Of course, it's like a mission in life for economists to get others thinking about the secondary and tertiary impacts of their choices, so we put up with the headaches. <br /><br />There are two Dave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-32040442949059503872015-02-27T21:02:10.878-07:002015-02-27T21:02:10.878-07:00It is hard for me to see chicken as an inferior go...It is hard for me to see chicken as an inferior good. To some it may be, but I think that for the most part it is personal preference. I know people who have decided to avoid red meat, making chicken and pork their preference. Since I think of beef as beef and chicken as chicken rather than substitutes for each other, I’ll draw another item up for question.<br />Beef has many uses. One of Camhttps://www.blogger.com/profile/08076193585713255546noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-6750711544485455672015-02-25T14:11:03.566-07:002015-02-25T14:11:03.566-07:00I love the chain reaction characteristic of this p...I love the chain reaction characteristic of this post. In our assignments, we are able to calculate the cross-price elasticity between two goods. While this is a great tool, I think it is interesting to broaden our view to span various industries as you have with this article. With summer approaching, I'm itching to get back out on the lake with my wave runners. The gas prices last summer Sebastianhttps://www.blogger.com/profile/16783727804245443474noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-39746769765811792542015-02-18T00:08:19.541-07:002015-02-18T00:08:19.541-07:00Andy Dufresne: 50/50
My contention, or the one in...Andy Dufresne: 50/50<br /><br />My contention, or the one in Bruce's post?<br /><br />I like the article you found, and don't find it controversial at all. I don't usually like to call research dated, but I do wonder about this one given all the conflicting dietary advice Americans have gotten over the last 40 years.<br /><br />I also think you're right that there are way more Dave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-46858712386261542292015-02-16T16:45:09.145-07:002015-02-16T16:45:09.145-07:00As a poor little pork farmer, I feel left out of t...As a poor little pork farmer, I feel left out of this conversation entirely. And I disagree with your contention that this is a simple example of supply and demand. <br />There seem to be many more variables that you are ignoring in this situation than we can cover in this blog (inputs such as prices of feed, cost to get food to market, climate change), and that is before we even start to Jon Karpelhttps://www.blogger.com/profile/04319473286421508413noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-49708428541008912502015-02-16T00:20:14.858-07:002015-02-16T00:20:14.858-07:00Bruce: 100/100
:) There's a book called "...Bruce: 100/100<br /><br />:) There's a book called "Economics In One Lesson" by Henry Hazlitt. It's widely criticized by people who don't like its implications. Even so, the big picture idea that it's trying to present is that people don't think through those secondary and tertiary connections of economics actions. So, you're in good company.<br /><br />I can seeDave Tuftehttps://www.blogger.com/profile/14877686358267438045noreply@blogger.com