Tuesday, 3 May 2011

Various links

1. Via Tyler Cowan, markets in everything: Osama Bin Laden example.

2. Who is more brilliant on the history of innovation than Joel Mokyr?  Note here the interesting non-use of patents.  The Rate and Direction of Invention in the British Industrial Revolution: Incentives and Institutions.

3. The use of discount rates to calculate pension liabilities: good example of discounting for lecture 3 on costs.

4. Tim Harford very good links on AV.  I particularly liked this one by Dennis Leech. He says

"I will be voting in the referendum for AV because, while it is flawed, it is better than First Past The Post for two good reasons. First, it rules out the possibility of an unpopular extremist being elected due to the vote being divided among the main parties. Second, it frees voters to express their true preferences without having to think about voting tactically. Voters can vote for the candidate they prefer, rather than for the candidate they think is most likely to keep out the one they least prefer, in the knowledge that second preference votes will count if his or her preferred candidate is eliminated before the last round of counting."