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My previous blog summarised the orthodox argument why adverse selection in insurance is a bad thing. This present blog gives the counter-argument from my book Loss Coverage: Why Insurance Works Better with Some Adverse Selection. In essence, the counter-argument relies only on simple arithmetic, and can be illustrated by a toy example. Think of a […]
Read MoreGuy Thomas explores why adverse selection in insurance is usually seen as a bad thing in the first of two blog posts based on his new book Loss Coverage.
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My recent book, Rulers, Religion, and Riches: Why the West Got Rich and the Middle East Did Not, addresses one of the big questions in economics and economic history: why did the modern economy emerge when and where it did? Specifically, why did the modern economy emerge in northwestern Europe at some point in the […]
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Originally posted on Sandyhershcovis.org Lately I’ve become interested in workplace ostracism as a form of workplace aggression. Most research lumps ostracism with other forms of mistreatment (incivility, bullying, etc.), but a recent chapter by Sandra Robinson and Kira Schabram (in press), has convinced me that it is in fact quite different, and possibly much more painful […]
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The British campaign in Norway in 1940 was an ignominious and abject failure. It is perhaps best known as the fiasco which directly led to the fall of Prime Minister Neville Chamberlain and his replacement by Winston Churchill. But what were the reasons for failure? In this exclusive article for fifteeneightyfour, Sir John Kiszely, who served in the British Army for forty years, rising to the rank of lieutenant general, explains his personal fascination with the campaign and what it can tell us about more recent wars.
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Author Carola-Bibiane Schönlieb discusses her book, Partial Differential Equation Methods for Image Inpainting. How have automated PDEs changed the landscape of image ‘inpainting’? When Marcelo Bertalmio et al has proposed his PDE inpainting method in 2000 he was one of the first ones to use powerful concepts from applied analysis to mimic the work of museum […]
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Paul Verkuil, author of Valuing Bureaucracy The Case for Professional Government (2017), on the recent Comey firing and the perils of running a government like a business.
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On May 10, 1837, 180 years ago today, the banks of New York City did something extraordinary: they suspended specie payments. This phrase does not ring many bells for twenty-first-century ears, but in the nineteenth century, the suspension of specie payments was the equivalent of a financial nuclear option. It meant that the banks in […]
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