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Monthly Archives: February 2017

Farewell to the greatest economist of all

23 Thursday Feb 2017

Posted by tjungbau in Academic Organizations, Economics Laureates, Education

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Nobel Prize

Kenneth J. Arrow, the youngest economist ever to be awarded a Nobel (jointly with John R. Hicks) for “for their pioneering contributions to general economic equilibrium theory and welfare theory”, died aged 95. Arrow, undoubtedly one of the most brilliant minds of recent times, is considered a founding influence of several sub-fields of Economics and among the architects of the advancement of Economics as a science in the twentieth century.

Many share the opinion that his ground-breaking contributions to social choice, innovation, health economics and the economics of risk have been even more ground-breaking for the Economics community than his work on general equilibrium theory for which he was awarded the Nobel Memorial Prize in 1972. Arrow is among a selected very few who consistently made it on the bookies’ list to win another Nobel.

I have briefly pondered about writing a piece on his research contributions to make the unbelievable wealth of his ideas accessible to a broader audience. There is, however, no need to reinvent the wheel. My former classmate Kevin Bryan (who btw considers Arrow to only be the second greatest economist of all time), professor at the University of Toronto, and among other things an expert in the history of Economic Thought, started a brilliant mini series of four posts on Ken Arrow today on his blog A Fine Theorem.

America first, Austria second?

13 Monday Feb 2017

Posted by tjungbau in Austria

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Austria, POTUS, Satire

Usually I would not—especially not here—but for once I cannot resist. For all those who have not seen the Austrian government’s (fake) message to the recently elected president of the United States, please enjoy the following link:

AMERICA FIRST, AUSTRIA SECOND.

UBER and its curious case of corporate social responsibility!

13 Monday Feb 2017

Posted by tjungbau in Corporate Social Responsibility, UBER

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Adultery, CSR, UBER

Companies in today’s economy compete not only via prices, quantities, marketing or product characteristics but also on a very different level, showings of corporate social responsibility. While it is impossible to disentangle the motivations behind these actions—may it be to achieve a competitive advantage or due to true societal concern— UBER’s strategy is certain to set new standards.

A French businessman once had the brilliant idea to log in to his wife’s UBER app with his credentials to order a ride for the both of them. While he insists to have logged out after doing so, due to an alleged software glitch, the UBER app continued to send reports of all his rides thereafter to his wife’s cell phone. Comparing a real-time record of her husband’s whereabouts with his accounts led her to realize that he was having an affair and ultimately to divorce from the adulterer.

Now, apparently, the left alone Frenchman sued UBER for €45m in damages. It is to be expected that the trial outcome will decisively influence UBER’s future CSR efforts to protect the family as an institution.

Read here about the hilarious events in The Guardian.

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  • George Santos and the ambiguous effects of resume padding: the costs and benefits of lying and misrepresentation in the job market
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  • Online Advertising, Data Sharing, and Consumer Control
  • The Strategic Decentralization of Recruiting
  • Branding Vertical Product Line Extensions

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