On the definitions of Pareto efficiency and surplus maximization and their connection. I have also updated my slides for this lecture, presenting things in a different order in a way that I think makes a bigger impact. You can find them here.
[vimeo 50833662 w=500&h=280]Top Posts
- What is the Recommended Serving Temperature for Guinness?
- How To Open A Bag of Charcoal
- Left, Right, Then Left Again
- Jeff's Intermediate Micro Course
- Prisoner's Dilemma Everywhere: Surge Pricing And The Uber Driver Strike
- Jean Tirole's Schwartz Lecture
- Pricing Bareback
- Why Is It A Crime To Park Facing The Wrong Way?
- Is It Just Your Imagination or Do All Radio Stations Play Ads at the Same Time?
- Crumbs
Tags
art
art of office politics
banana seeds
blog
books
boston
california
chicago
coffee
computers
crime
current events
decision-making
economics
education
evolution
family
financial crisis
food and wine
friends
funny
game theory
incentives
iPhone
kludge
language
law
marriage
maths
movies
music
obama
politics
psychology
publishing
sandeep has bad taste
sanitation
sport
statistics
suicide
teaching
terrorism
the web
tomatoes
travel
TV
vapor mill
war
winter
writing
Subscribe via RSS
Jeff’s Twitter Feed
- Congratulations Northwestern Economics Graduates Class of 2020 #NU2020 #WCAS2020 @WeinbergCollege https://t.co/nY6z4hwqOO 3 months ago
- re-upping this: cheaptalk.org/2011/09/21/can… 1 year ago
- Today the Supreme Court ruled that partisan gerrymandering is not something that the judicial system can regulate.… twitter.com/i/web/status/1… 1 year ago
- “We are all just prisoners here of our own device” used to be a clever turn of phrase using a subtle form of the ve… twitter.com/i/web/status/1… 1 year ago
- Wait, then how'd they get the toothpaste in there in the first place? 2 years ago
2 comments
Comments feed for this article
October 8, 2012 at 2:01 pm
Aaron
Thanks for sharing your videos. Note: you have a typo at about 3:40 “utilitariamism”. Maybe that is your check to see who really watched the video closely?! Would you be willing to share your workflow for creating these videos? They are certainly more polished and professional than many videos put out these days. Thanks again!
October 10, 2012 at 3:08 pm
TuringTest
I know these lectures are designed for an undergrad econ class, but why is there no mention of Hayek’s critique of planning (or Coase’s critique of welfare economics)? Information is too disperse for “social welfare economics” to ever work in practice. After all, who has sufficient information at his disposal to maximize these social welfare functions? My own view is that (outside the classroom) welfare economics is a total waste of time, for the reasons given by Hayek and Coase