Recommended reading

1. NY Times post on using game theory to design high school application system in the New York City. I also found an older article by Alvin Roth reviewing the theory of deferred acceptance and its applications.

2. Professor Marc Bellemare on how academic economists can use social media for research. I echo the following reason he has for using social media to talk about research:

I believe all of us should spend some time contributing to public goods by helping people think through social problems in your area. This is especially true for those of us whose research is publicly funded and whose isn’t? With more and more Americans questioning the value of a college education, we have a duty to show that universities play a much broader role, and to put knowledge in the service of society.

I also agree with him that it is important to keep the blog fresh by writing regularly and succinctly (obviously I haven’t done a good job in that regard, at least recently).

3. Yale job market candidate Alex Cohen on how imperfect factor markets dampen the positive impacts of relaxing credit constraints. I’m excited to see more structural approaches being used in development economics.

4. The Economist on whether the government should regulate digital monopolies. The internet is essentially a two-sided market which provides a platform for multiple parties (in this case, companies which advertise their products, and consumers) to make transactions more efficiently . To evaluate the welfare consequences of policies, we need to be more clear about whose welfare we want to maximize.

5. World Development Report 2015 focuses on understanding mind, society and behavior, questioning the fundamental rationality assumption in economics and suggesting alternative methods to analyze individual behavior.

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