Trillion Dollar Economists · How Economists and Their Ideas have Transformed Business, How Economists and Their Ideas Have Transformed Business by Litan, Robert -- Read -- Imperial Library of Trantor

Index

Cover Contents Title Copyright Dedication Preface Chapter 1: Introduction: Economists as Innovators

Organization of the Book My Personal Interest (and Bias) Notes

Chapter 2: An Easy Introduction to Economics

Rationality Markets Market Failures The Macro–Micro Distinction Economic Growth in the Short and Long Run The Equity–Efficiency Tradeoff Innovation and Growth: The Role of Economists The Bottom Line Notes

Part I: The Power of Economic Ideas: Direct Use in Business

Chapter 3: The Price Is Right

The Bloomberg Way of Pricing Auctions Different Prices for Different Folks The Bottom Line Notes

Chapter 4: Minimizing Costs

Optimization Learning by Doing The Bottom Line Notes

Chapter 5: Beyond Moneyball

A Brief Guide to Regression Analysis The Business of Forecasting The Business of Economic Consulting Data Analytics and Big Data Econometrics and Sports: Moneyball Regulatory Moneyball The Bottom Line Notes

Chapter 6: Experiments in Economics and Business

Economics in the Lab: Vernon Smith and Experimental Economics Lab Experiments in Business: Focus Groups Economic Experiments in the Field: Randomized Controlled Trials Business Experimentation in the Field Innovation and Entrepreneurship: Experimentation as the Foundation of Growth The Bottom Line Notes

Chapter 7: Matchmaker, Matchmaker

A Gentle Introduction to Market Design and Matching Theory Matchmaking in the Labor Market Matchmaking and Online Dating The Bottom Line Notes

Chapter 8: Economists and Mostly Good Financial Engineering

Not Putting Your Eggs in One Basket: The Rise of Index Investing Efficient Markets and Their Implications Behavioral Finance Valuing Options: Upsides and Downsides The Bottom Line Notes

Part II: Economist-Inspired Policy Platforms for Private Business

Chapter 9: Planes, Trains, and . . . Trucks

Origins of Transportation Regulation Airline Deregulation Trucking Deregulation Railroad Deregulation Deregulation’s Impact: The Transportation Industry Deregulation as a Business Platform The Bottom Line Notes

Chapter 10: Economists and the Oil and Gas Revolution

The Origins and Decline of Price Regulation of Fossil Fuels The Oil and Gas Supply Revolution The Energy Revolution as a Platform Technology The Bottom Line Notes

Chapter 11: Economists and the Telecommunications Revolution

Economists in a Quick History of Communications When Natural Monopolies End: The Run-Up to the AT&T Antitrust Case Competition in Telecommunications: The Benefits of AT&T’s Breakup Economists and Price Cap Regulation Economists and Spectrum Allocation The Bottom Line Notes

Chapter 12: Economists, Financial Policy, and Mostly Good Finance

Economists and Competition in Brokerage Commissions Economists as Detectives: Accelerating Automated Trading Economists and the Financial Crisis How Did the Crisis Happen? A Quick and Easy Guide Subprime Lending Excessive Leverage: An Introduction The Pre-crisis Demise of SEIR The Glass–Steagall Debate The Bottom Line Notes

Part III: Looking Ahead

Chapter 13: Economic Ideas in Waiting: Business Applications

Prediction Markets Potentially Good Financial Innovations Congestion Pricing The Bottom Line Notes

Chapter 14: Economic Ideas and Challenges on the Policy Shelf: Business Implications

Federal Budget Deficits as Drivers of Policy Change Premium Support for Medicare and Medicaid Taxing Consumption Taxing Carbon The Bottom Line Notes

Chapter 15: The Future of Economics: What It Means for Business and Economists

The Revolution in Economics How Economics Will Continue to Affect Business Implications for Economists Concluding Thoughts Notes

Appendix: Prizes in Economics About the Author Index End User License Agreement