Readings: Fading stars, Neanderthals, Aging, and the Premier League



  • A devastating new paper takes apart the claim that “new economy” companies are more dominant than ever, or more productive, or more … pretty much anything, other than normal, that is. This is careful work, and while nothing is ever definitive in this area, should be highly cautionary when making claims about technology-driven “star” companies’ dominance.

2019 03 14 07 19 57

Finance & Economics

  • When pretty much everything consumers do in economic life is an example of a cognitive bias best explained by behavioral finance, then what you have there, more than anything, is a bias is how you think about consumer behavior. The latest example comes from temporal discounting in loans, with a new study that people’s willingness to take on expensive loans isn’t just about them being seduced by money now over subsequent costs/
  • Despite being the richest league in world football, the Premier League has only had four clubs in  League last eight twice in the last decade. Why doesn’t wealth translate into dominance at a league leve?

The University Admissions Scandal Thing

  • The explainers continue to come thick and fast in the college admissions scandal in the US, but this is a good question that shows how badly people misunderstand the nature of elite colleges in the US: Why Were These Rich Parents So Fixated on Elite Colleges? The answer, of course, is that getting into elite colleges has nothing to with increasing their wealth, but everything to do with inter-family status baubles in a great and pointless competition.