The day after last week’s budget, I logged onto the BBC News website and clicked on their budget calculator to find out if I was a winner or a loser. The questions are pretty simple: first off, it asks how much you drink, smoke and drive, and then it asks how much you earn, plus a few bits and bobs to cover technicalities. Then, it spits out an answer: did Phil leave you feeling flush, was it more of a hammering at the hands of Hammond? I came away £8 a month better off…and significantly angrier than I expected.
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Ariel Procaccia and Jonathan Goldman of Carnegie Mellon University have taken it upon themselves to make fair division problems easier to solve with a flashy new website called Spliddit (eyy, fuhgeddaboudit).
Come and see me record a brand new radio show about economics! dlvr.it/2YZlv6
— Tim Harford (@TimHarford) November 29, 2012
Fans of Tim Harford and his work on BBC Radio 4’s More or Less will be excited to learn he’s doing a new radio show about economics. In this post on his blog, he explains the show will be called ‘Pop Up Economics’, and consist of short stories about important people and ideas in economics.
The show is being recorded in the evening this coming Tuesday 4th December, in London, and if you’d like to go along, you can email email@example.com for tickets and details.
Via @TimHarford on Twitter.
There may be no Nobel in mathematics, but that needn’t stop mathematicians winning one: Lloyd Shapley has just won the Nobel prize for economics, for the theory of stable allocations and the practice of market design. ((Though technically it’s not a Nobel prize, and actually the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Perhaps Alfred Nobel’s made-up wife also had an affair with a fantastical economist.))
Lloyd Shapley described himself in an Associated Press interview:
“I consider myself a mathematician and the award is for economics. I never, never in my life took a course in economics.”
But if you don’t take his word for it, look on over at his entry on the Mathematics Genealogy Project, and you’ll find his thesis is on “Additive and Non-Additive Set Functions”.
The Nobel prize website has some details on the theory of stable allocations and market design, but an old AMS feature column gives a gentler mathematical introduction, via the elegant graph theory of Hall’s Marriage theorem.
The UK Data Service, due to launch on 1 October 2012, is funded for five years by the Economic and Social Research Council (ESRC) and aims to “support researchers in academia, business, third sector and all levels of government” by providing “a unified point of access to the extensive range of high quality economic and social data, including valuable census data”.
Three economists decided to examine bank robbery as an economic activity. They were given access to data from the British Bankers’ Association on the amounts stolen during robberies, pretended to be statisticians for a bit, and came up with some interesting results. They’ve written up their findings in a feature article in the June edition of Significance.
A new strategy for the iterated prisoner’s dilemma allows, over the very long run, one player to unilaterally claim an unfair share of the rewards.