But it’s also a chance to consume and enjoy. Youth is an opportunity to learn things and do things that will create human capital that will make you better off later in life. The economics of being a kid are all about the tradeoff between investment and consumption. And the scarcest resource we have is our youth. And what's that got to do with economics? Well, because economics is not the study of money, it’s the study of scarce resources.
It starts with a story of my son hitting a game winning home run in little league. He helped draft some of the chapters and did some of the background research.īut along the way, he became a communist and the whole economics thing wasn't working out anymore. Reading: An Economist Goes to the Game: How to Throw Away $580 Million and Other Surprising Insights from the Economics of Sports is here Topic: Which Sports Your Kids Should Playīio: Professor of Economics at Stanford University Paul, please begin with your opening remarks. His session was taped with several my friends at Stanford Day an event that celebrated my friend Myron Scholes 80th birthday. Ok, let’s start the session with Paul Oyer. If you enjoy today’s podcast, please subscribe so that you can continue to enjoy this content.
Please tell your friends about it and have them sign-up to receive our weekly emails about upcoming shows. I make this podcast to learn, and I offer this program free of charge to anyone that is interested. Our discussion will focus on the economics of all thing’s soccer including why European soccer owners lose money, and why do certain soccer positions take most of the earnings. Our second speaker will be University of Michigan economist Stefan Szymanski who is the author of Soccernomics. Why South Koreans dominate women’s golf? And how does game theory inform us whether Michael Jordan should take the last shot or pass the ball to another player? Paul will discuss which sports your kids should play. Today’s first guest is Stanford Economics Professor Paul Oyer who has written the book An Economist Goes to the Game: How to Throw Away $580 million and Other Surprising Insights from the Economics of Sports. Today’s session is about game theory and sports.
What Happens Next is a podcast which covers economics, finance, history, politics and sports.
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