After several months of dormancy, I look forward to a new academic year of posts on Close to the Edge starting in this September. Between preparing a pair of new courses for the upcoming year, research work, and advisement for the student writers of Sound Economics, it promises to be a fulfilling time – with lots […]

Via Dorkly, a great look at the economics of online gaming, including the unique features and challenges faced by developers, gamers, and regulators alike.

HT to Barry Ritholtz for sharing this video on how we (fail to) understand risk in the context of health care policy. It includes a great example of why requiring child seats on planes is inefficient, and what diseases are real killers in the United States.

I’ve spent my share of time considering what goes into being “successful” – however that term may wish to be interpreted (career success, success in relationships, success in sports, etc.). Most of us can admit that success is the result of some parts skill and some parts luck. But at what proportion do luck and […]

Borrowing a well-known problem from Leonard Mlodinow’s The Drunkard’s Walk: Suppose a mother is carrying fraternal twins and wants to know the odds of having two girls, a boy and a girl, and so on. […]  What are the chances she will have at least one girl? Given the odds of having a boy are equal […]

Apologies for the Upworthy-like title, but it’s true. Thanks to Justin Wolfers for this one.

Courtesy of Cyanide and Happiness:

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