The Stupid Rich

Interesting piece from the Richmond Fed. 

A search-theoretic model features buyers’ ability and willingness to shop around as an explanation for price dispersion. In this new model, motivation to shop around or not shop around doesn’t matter. All that matters is that some people do and some people don’t. And this likely leads to price dispersion.

Description from web site:
For many years, economists have observed substantial and pervasive price dispersion — wide variations in price for the same product. Some economists have attributed price dispersion to "ignorance in the market," a lack of information among buyers and sellers. More recently, economists at the Richmond Fed and the University of Pennsylvania have developed a model that combines price dispersion theory with intertemporal price discrimination theory to suggest that buyers' differing ability and willingness to shop around might explain price dispersion.

This could bring on buyer's remorse, of course.  UNLESS you are one of the stupid rich.

 

So you want to save "Africa"?

 hat tip to @cblatts

School Daze: MIT vs. Stanford Culture

MIT has a video to help the geeks figure out how to talk to non-geeks.  An actual video.  Maybe a spoof, maybe not, pretty funny either way.

Stanford, on the other hand, is famous for its band.  And the band has its "Dollies."  They are....well, they are here.

Where would YOU want to go to school, if you were a young man?  I think the answer is....MIT.  There would be no competition.  Of course, you'd have to hack that video, to prevent that valuable info from getting out.

Nod, but no blame, to Kevin Lewis.

Driving While Blonde

This poor woman was targeted simply because she is white, and blonde.

At least, that's her story. The fact that she was doing 70 in a 30 mph zone is incidental.

Speeding blonde claims cop targeted her ABBOTSFORD, British Columbia, June 13 (UPI) --
A Canadian woman stopped for driving more than double the speed limit in British Columbia alleges the officer targeted her because she's a blonde, police said. The unidentified woman was clocked driving 70 mph in a 30 mph zone in Abbotsford, southeast of Vancouver Sunday, The (Vancouver) Province reported Wednesday. Police Constable Ian MacDonald told the newspaper the woman's first defense was to go on the offensive by alleging the officer profiled and stopped her because she's blonde. "You couldn't make this up -- people would never believe it," MacDonald said. "If the officer was targeting blondes and had the ability to determine blonde, brunette and redhead at (70 mph), he deserves a commendation -- a hairdressing commendation." Despite her protests, British Columbia provincial law means an instant 7-day impounding of the woman's Lexus because she was doing more than double the posted limit, along with fines to be determined in court, the report said.

Nod to the Blonde

White Girl Problems

Okay, I'm not proud of this.

But if I need a pick me up, no more than twice a day or so (no, really), I just crank up Twitter and watch #whitegirlproblems . It's extremely rewarding. Some are likely serious, some are certainly not. But rewarding.

In five minutes, you will laugh out loud at least five or six times.

Things like:

I prayed for your forehead last night.

Pulled up to a stop light, blaring Lil' Wayne, & 2 black guys just broke up laughing.

If only I could unf**k you

So pale.... so pale

Kindle wouldn't connect to wi-fi, so I had to buy an actual book

Too busy to work on job applications

It's art, actually.