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Macon Money

posted to Rajiv Sethi on Thu 25th Apr 13

Among the many fascinating people currently affiliated with the Microsoft Research New York lab is Kati London, judged by MIT's Technology Review Magazine (2010) to be among the Top 35 Innovators Under 35. Through her involvement with the start-up
Haircuts on Intrade

posted to Rajiv Sethi on Sat 6th Apr 13

When Intrade halted trading abruptly on March 10, my initial reaction was that the company had commingled member funds with its own, MF Global style, in violation of its Trust and Security Statement. I suspected that these funds were then dissipated (or embezzled),
Albert Hirschman and the Happiness of Pursuit

posted to Rajiv Sethi on Sun 24th Mar 13

The following is the text of my remarks at a gathering in memory of Albert Hirschman, held earlier today at the Institute for Advanced Study. The event included moving recollections from members of his family, as well as tributes by Joan Scott, Jeremy Adelman,

Algorithmic Trading and Price Volatility

posted to Rajiv Sethi on Fri 7th May 10

Yesterday's dramatic decline and rapid recovery in stock prices may have been triggered by an erroneous trade, but could not have occurred on this scale if it were not for the increasingly widespread use of high frequency algorithmic trading. Algorithmic trading
The Invincible Markets Hypothesis

posted to Rajiv Sethi on Sun 14th Feb 10

There has been a lot of impassioned debate over the efficient markets hypothesis recently, but some of the disagreement has been semantic rather than substantive, based on a failure to distinguish clearly between informational efficiency and allocative efficiency.
Some Further Comments on Nominal Wage Flexibility

posted to Rajiv Sethi on Wed 16th Dec 09

Tyler Cowan thinks that we should cut minimum wage, and links to Bryan Caplan for an explanation. And Caplan thinks that it's all quite elementary:Cutting wages increases the quantity of labor demanded. If labor demand is elastic, total labor income rises

Rajiv Sethi: Macon Money, the Anti-Bitcoin

posted to naked capitalism on Sat 27th Apr 13

By Rajiv Sethi, Professor of Economics, Barnard College, Columbia University. Cross posted from his blogAmong the many fascinating people currently affiliated with the Microsoft Research New York lab is Kati London, judged by MIT’s Technology Review Magazine
Links for 04-26-2013

posted to Economist's View on Fri 26th Apr 13

Do interest payments on government debt matter? - Antonio FatasThe sequester hits America's poor with stealth cuts - Robert ReichServices and the Slow Economic Recovery - Carola BinderAbba Lerner (1943): "Functional Finance" - Brad DeLongDebt, Growth
10 Friday AM Reads

posted to The Big Picture on Fri 12th Apr 13

My heavy-on-WSJ (for reasons unknown) Friday morning readings: Big Round Numbers In Sight for Stocks (WSJ) but see Trading Volumes Fall for Big Firms (WSJ) Did Intrade Close Because of Embezzlement? (Rajiv Sethi) Dissecting the Variety of Price-Earnings Ratios