The Answer Is Transaction Costs
"The real price of everything is the toil and trouble of acquiring it." -Adam Smith (WoN, Bk I, Chapter 5)
In which the Knower of Important Things shows how transaction costs explain literally everything. Plus TWEJ, and answers to letters.
If YOU have questions, submit them to our email at taitc.email@gmail.com
There are two kinds of episodes here:
1. For the most part, episodes June-August are weekly, short (<20 mins), and address a few topics.
2. Episodes September-May are longer (1 hour), and monthly, with an interview with a guest.
Finally, a quick note: This podcast is NOT for Stacy Hockett. He wanted you to know that.....
The Answer Is Transaction Costs
Dating, Marriage, and the Costs of Search
Episode 6 takes up the question of "matching," and the transaction costs of dating and marriage. Some resources:
Ashley Madison: "Is It Real?"
Garrison Keillor, "We are Still Married"
Michael Munger, on "Calculation" and socialist economics, at AIER
Michael Munger and Russ Roberts, on "Econtalk: WIld Problems"
Tyler Cowen and Russ Roberts, on "Making Your Own Economy"
Intellectual Property and the Problem of the Anti-Commons
Background on search cost and optimal stopping:
If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com !
You can follow Mike Munger on Twitter at @mungowitz