Economics
2 breaks
Prices, incentives and why markets do what they do.
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Why fair coin flips end with one person owning almost everything: the yard-sale model of wealth
Give 60 people 100 coins each and let them trade by fair coin flips, with the stake a fixed share of the poorer person's wealth. Nobody has any skill or…
Why mild preferences can build a segregated town: Schelling's chequerboard
Nobody in this town wants it split into blue and orange districts. Each household only asks that a few of its neighbours look like it. Yet run the rule and the…