With the second recount for the seat of Herbert beginning tomorrow night, one thing’s for sure: marginal seats get a lot of attention. What might a swing against an incumbent mean for you?
Can you incentivise a drug dealer to rat on the competition? Roland Allen channels his inner Escobar to find out.
Sunk costs are one of the first things any economics student learns about. For the uninitiated, a sunk cost is defined as ‘a cost that is already incurred and cannot be recovered’. Specifically, it is taught that any rational decision maker should not take sunk costs into account when making decisions. This might seem like …