Digital economics in one paragraph

Search costs are lower in digital environments, enlarging the potential scope and quality of search. Digital goods can be replicated at zero cost, meaning they are often non-rival. The role of geographic distance changes as the cost of transportation for digital goods and information is approximately zero. Digital technologies make it easy to track any […]

3 very different views of economic models

The first is a famous one, from Milton Friedman, via Justin Fox’s The Myth of the Rational Market: [T]he relevant question to ask about the “assumptions of a theory is not whether they are descriptively “realistic,” for they never are, but whether they are sufficiently good approximations for the purpose at hand. And this question […]

A reading list on market power, superstar firms, and inequality

UPDATE: This has become a living list. For a while I tried to keep it organized. At this point I mostly just add links to the bottom. My best attempt at an overview of the corporate concentration issue, from an HBR piece in July 2017: The basic facts are these: Most industries in the U.S. have grown […]