Alternatives and Supplements: Fun on the Internet

Information and Risk

Why Business Organizations?

Economist have actually asked questions such as, "Why are there business organizations and not just individuals buying and selling in markets?" Ronald Coase helped provide a good answer, as explained by Michael Munger:

Screening and Signaling

What happens when one side of the market has better information about product quality than the other? Three economists who answered that question received a Nobel Prize in 2001:

Risk and Uncertainty

Here is an explanation of arbitrage, one of the several topics discussed in this section:


Insurance markets are strange markets, and give rise to a phenomenon called moral hazard. This entry in The Concise Encyclopedia of Economics explains a bit about this market and the problems in it:

Quality and Price

(I have not yet found an appropriate entry for this topic.)

Nasty Auctions

Some kinds of auctions should be avoided. This blog entry has a lengthy quotation from economist Robert Frank on the entrapment game:

These links were checked on July 5, 2008.

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