Economics
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Prices, incentives and why markets do what they do.
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Why a free shortcut can make everyone's commute longer: Braess's paradox
Build a brand-new road and every commute gets longer. In a town of 4,000 drivers, two routes each take 65 minutes. Add a free shortcut and each driver…
Why adding a road can slow every driver down: Braess's paradox
You would think a free shortcut can only help. In 1968 the mathematician Dietrich Braess showed it can make every driver slower. In our four-road example…