Friday, December 18, 2015

Bah, Humbug. Scrooge was an economist!

Taking a little break from the grading.  I thought you might be amused by this paper, which is based on the following premise.  If you exchange real gifts with a distant cousin over the holidays, and the gifts have the same cash value, and each cousin doesn't really know what the other wants, wouldn't each of you be better off were there no gift exchange whatsoever?

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