This is interesting. Companies, large companies, and public institutions hire consulting firms to research drug coverage for their employees. This is what companies and institutions do, get the experts to come in, use their expertise and knowledge of the process or the market, to get the best efficiencies or deals at lower costs. The way STAT reports it, the consultants are playing both sides. The consultants sign on with the companies for a fee. In...

This is interesting. Companies, large companies, and public institutions hire consulting firms to research drug coverage for their employees. This is what companies and institutions do, get the experts to come in, use their expertise and knowledge of the process or the market, to get the best efficiencies or deals at lower costs. The way STAT reports it, the consultants are playing both sides. The consultants sign on with the companies for a fee. In...

Blog Why the climate crisis means higher prices Extreme heat across the world is contributing to high inflation in the UK By Chaitanya Kumar 21 July 2023 Greedflation, shrinkflation, eggflation, greenflation: we’ve been introduced to a lot of new,...

[embedded content]Does Learning How To Think In Coding Transfer More Generally?Another YouTube Video in the above series. I suspect some of us are not fans of some of those interviewed, although you must admit they changed the world. John Michael Colón, Wobbly Economics - Part I. A tribute to Fred Lee and an explanation of why you are right to distrust economists. Shattering 'Market Theory', an old post on Daily Kos, reporting a discussion on a private email list of one of my numeric...

Spencer England departed a year or so ago, Barkley Rosser from Econospeak recently, and now my friend Dan . . . Daniel Robert Crawford, 75, died peacefully at his home, surrounded by hisfamily, July 17, 2023. He was born October 30, 1947 to Robert and RuthCrawford in Oakland, CA. Dan’s family of origin was a Navy family so theymoved several times before settling in Cuyahoga Falls, Ohio. Dangraduated with Honors in 1965 from Cuyahoga Falls...

Spencer England departed a year or so ago, Barkley Rosser from Econospeak recently, and now my friend Dan . . . Obituary Daniel Robert Crawford, 75, died peacefully at his home, surrounded by hisfamily, July 17,2023. He was born October 30, 1947 to Robert and RuthCrawford in Oakland, CA. Dan’s family of origin was a Navy family so theymoved several times before settling in Cuyahoga Falls,...

Blog Much ado about high interest The money’s there to tackle the cost of living crisis, but our politicans don’t want to spend it By Dominic Caddick 21 July 2023 This government urgently needs to help people through the cost of living crisis and...

Non-ergodic economics, expected utility theory and the Kelly criterion (wonkish) Suppose I want to play a game. Let’s say we are tossing a coin. If heads come up, I win a dollar, and if tails come up, I lose a dollar. Suppose further that I believe I know that the coin is asymmetrical and that the probability of getting heads (p) is greater than 50% — say 60% (0.6) — while the bookmaker assumes that the coin is totally symmetric. How much of my bankroll...

The Inevitable Cycles of Investment

Is he nuts??