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Tag: Richard Thaler

How The Simpsons Called an Economics Nobel Before Prediction Markets Existed

In a few weeks the Royal Swedish Academy of Sciences will name the 2026 Nobel laureate in economics, and the guessing is already under way.
A cartoon got there first. In a 2010 episode of The Simpsons, the ten-year-old Milhouse fills in a children’s Nobel betting pool and picks for economics an MIT professor, Bengt Holmström. Six years later Holmström won it.
The prophecy was really a forecast, and this is how The Simpsons does it.
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Why Nobody Blinks at a $13 Steak

Beef prices hit records this summer and US consumers bought more of it than ever. The explanation involves two ideas from business school, and neither one is about beef. One explanation concerns the way people think about money. The other concerns the way industries think about time. Between them they explain not just the cost of your ribeye but a mistake that companies in every sector make, over and over.

Why The Classic Car In The Garage Won’t Be Sold

An estimated $570 billion in classic cars will pass to heirs as part of the $90 trillion Great Wealth Transfer. Behavioural economics from Chicago Booth and 40 years of family business research from IMD Lausanne explain why so few will be sold, and what families can do about it.

Can Anyone Actually Value SpaceX?

SpaceX is targeting a valuation of $1.75 trillion which would put it above every S&P 500 company except Nvidia, Apple, Alphabet, Microsoft, and Amazon. Was it a coincidence that Elon Musk chose April Fool’s Day to file confidentially for what could be the largest initial public offering in history?