How Freakonomics Radio and NPR Planet Money complement each other
February 15, 2012
Hello all, time for another short post in my non-blog (I’m not really blogging, remember?).
Earlier this month, the Freakonomics Radio had an episode about commitment devices. Commitment devices are one of my main interests in behavioral economics. In fact, there are quite a few examples I collected over the past few months in order to share on my blog (however, seeing how I’m not really blogging, I haven’t come around to it just yet!). I’m intrigued by commitment devices (or commitment contracts) and have a few nifty ideas for apps and web services that are based around the concept.
Anyway, you can (and should) listen to the episode on commitment devices here.
Just yesterday (Feb. 14) Planet Money had an episode on public goods. Public goods just happen to be what I’m writing my thesis on. So, with two of my favorite economic podcasts reporting on two of my favorite subjects, I’d say I had a pretty good week, at least in media-consumption terms.
Now, how do these two complement each other?
Well, over at Freakonomics, Dubner et al. discuss murder as the highest form of a commitment device. Then, Planet Money makes the point that autopsies are a public good and ponder whether the government should provide them. In other words, after Freakonomics is done with the poor soul, Planet Money would tell you the cause of death.
And they call economics the dismal science…
The end to Bitcoin?
October 19, 2011
Interesting piece on the Guardian about the demise of the crypto-currency, or at least its value.
The value of Bitcoins … has plummeted across exchanges – to a level where it costs more to “mine” them than they are worth.
…part of the problem seems to be precisely what economists remarked on when its value began to spike as more and more people piled in: the appreciation in value was a speculative bubble, caused by people hoarding the currency, rather than the start of a new (or parallel) economy.
Previous post about Bitcoin over here.
Passwords Prevented
September 12, 2011
A nice quick read by David Prague over at Scientific American: Passwords Prevented. Allow me to give you a taste:
I was astonished when my daughter told me that her school has instituted a new security initiative. Student passwords must now be at least eight characters long, must contain letters, numbers and punctuation, and may not incorporate any recognizable English word. And the password must be changed every 30 days.
Can you guess what this password is meant to lock down? The fifth-grade homework-downloading Web page.
Even though the claims the writer makes seem so trivial, often they are not implemented. I strongly believe in KISSing and periodically remind myself the words of Antoine de Saint-Exupéry :
A designer knows he has achieved perfection not when there is nothing left to add, but when there is nothing left to take away.
Something to think about for you UX guys.
Cheers,
Alon
Bullet points on Bitcoin
May 17, 2011
What is Bitcoin?1. Bitcoin has been making some serious noise lately on the internet. I admit I haven’t spent a lot of time to meticulously examine it, but I will say that for the time being I am both intrigued and skeptical. And I’m not the only one.
2. The founder Satoshi Nakamoto is a mystery man, and to my best understanding no-one, including the people who run Bitcoin, have ever met (some question his existence). These same people try to portray a very simplified economic system. So simplified that one might wonder how much thought was really given to it, especially regarding the way it will evolve and grow. Someone made a comment (can’t find the source) that suggested computer science graduates shouldn’t pretend to know everything, including economics. From my experience with founders that lack a suitable background, I tend to agree. Economies evolve and develop. What may work now, won’t in the future. No economic system can be planned fully in advance.
3. Jason Calacanis recently wrote a post titled Bitcoin P2P Currency: The Most Dangerous Project We’ve Ever Seen (thanks for not sugar-coating it). Here’s what he had to say:
After month of research and discovery, we’ve learned the following:
1. Bitcoin is a technologically sound project.
2. Bitcoin is unstoppable without end-user prosecution.
3. Bitcoin is the most dangerous open-source project ever created.
4. Bitcoin may be the most dangerous technological project since the internet itself.
5. Bitcoin is a political statement by technotarians (technological libertarians).*
6. Bitcoins will change the world unless governments ban them with harsh penalties.
4. I got word on Calacanis’ post from boingboing. First comment there mentioned Flooz. As it happens,
“Flooz.com was a dot-com venture, now defunct, … the company attempted to establish a currency unique to Internet merchants…” (wikipedia)
And here’s the interesting part:
Evidence indicates the company was at least partly brought down by fraud. In 2001, Flooz.com was notified by the Federal Bureau of Investigation that a Russian organized crime syndicate was using Flooz and stolen credit card numbers as part of a money-laundering scheme, in which stolen credit cards were used to purchase currency and then redeemed. (wikipedia)
In other words, where there is money, there will be those that will try to abuse the system. If Botcoin’s main mechanism against fraud will be based around keeping BTC face value so low it won’t appeal to abusers, it will not appeal to the masses as well.
5. Either way, I’m sure we’ll hear a lot more about Bitcoin in the months to come. In the meanwhile, here’s Bitcon’s intro video:
And Jason Calacanis’ interview with Gavin Andresen (Bitcoin’s technical lead) and Amir Taaki (founder of BitcoinConsultancy.com) on This Week In Startups:
Update 9-11-11:
James Surowiecki about Bitcoin on MIT Technology Review (here).
And Krugman has a few words to say too.
First post
May 16, 2011
A few words of introduction.
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