Test post

Testing Testing 1 2 3 Is this thing on?

Comments

Post a Comment

Popular posts from this blog

Blog Post 9: Principle-Agent model triangles

This variation of the principle-agent model is actually a significant problem that I faced when working as a swim instructor a few summers ago. The two principles that I had at the time were my boss who coordinated the private lessons that we scheduled, the parents of the children that I was teaching. These private lessons were scheduled to be half an hour and the parent is instructed to pay before entering the pool. Each lesson is a flat rate with no discounts given for multiple lessons. It is also the same rate for multiple children to be in the same lesson. As the agent, I was expected to be there 15 minutes early to collect equipment, formulate a lesson plan and then mark out an area of the pool for the lesson to take place in. The pool had to be claimed, because these lessons often occurred during free swim hours at the pool. The conflict between the principles idea of high and low effort usually revolved around the amount of time that the lesson consumed. Even with the 15 minut...
Read more

David Ricardo Background Information

Image
David Ricardo was born on April 18th, 1772 in London and died on September 11th, 1823. David was the third child in a jewish family that had immigrated from the Netherlands. His father was a successful stock broker who had made a fortune on the London Stock Exchange. At 14 David began to follow in his father's footsteps, but by 21 they had split due to religious differences. David still did well for himself by making a small fortune, which allowed him time to study his interests such in literature and science. https://en.wikipedia.org/wiki/David_Ricardo At 27, David began to take an interest in economics after reading Adam Smith's The Wealth of Nations . This prompted him to write his first economic article on the bullion controversy. At the time, the banks of London weren't backed by gold and so were generating bills and loaning at an exaggerated rate. The country was deeply divided at the time over whether this was causing the inflation that the country was seeing, o...
Read more

Blog Post 7: Team production with gift exchange

My personal experience with team production with gift exchange is with a common phenomenon, shift swapping. The summer after I had graduated from high school, I was working as a lifeguard at a very unorganized pool. The pool had past problems with employees shift swapping and had technically banned the process. However, they didn't officially regulate this. As long as five guards showed up for every shift, no head guards checked who was supposed to be on duty. So, as long as your substitute showed up for the shift, you were in the clear. A big issue then became that the shift swapping was based solely on a trust system. There was no official schedule change or book of shifts swapped with signatures, like at other places that I had worked. If  the person that you swapped with didn't show up, you had no way to prove the agreement or back it up. As a result you would be written up, placed on probation or fired depending on how many times it happened. A second issue was then that...
Read more