Outcome Obsession: The Problem of Mechanism Design, as Demonstrated in Baseball
I discussed mechanism design recently and suggested how it can be applied to solve routine problems. I was thrilled to see that one reader intends to use mechanism design as a parenting tool. I hope the reader will design a good mechanism and succeed in its application. But it would ...

Planning Your Expenses in Stages
Jonathan Clements in the Wall Street Journal explains four useful strategies for retirees to avoid running out of money. I found the third strategy "segmenting the problem" quite interesting: Many seniors loathe the idea of delaying Social Security and they don't like income annuities. As an alternative, think of your retirement ...

On Making Comparisons with Your Money
Recently, I learned that there are men who wax their backs and other delicate areas. I guess they do it to be clean-cut, but it seems extreme to me. I commented to my female friend that it sounds painful. She replied, “Yeah, but men can’t complain since women wax their legs ...