Course timing and readings

Of Yahoos and Obsidian! We will be covering trade for the next couple of weeks. I think you would get a lot out of the readings if you choose to do them.

Assignments and due dates

Week 10 homework is due this Sunday. I am combining the research and rumination assignments into a single one, so please only submit into the RESEARCH submission this week, and be sure to follow the group submission discussions carefully if you choose to do the conversations as a group, which again I recommend. You should have fun with this one, as we are asking you to write up a newspaper headline and story for the NEGATIVE NEWSPAPER – in other words you will be exploring the world that does not exist.

Your week 11 homeworks will be posted by the end of the weekend. We will spend our research time thinking about the Economics of Conspiracy Theories

Exam information

Exam Brief Update: We aim to have the exam graded before we head into next weekend. Once again your TAs will have the printed exams to give out in your next recitation.

  • The college has asked me to submit special notices to students who are struggling. If you find that you have gotten a notice from me via the UR Workday system, it means that you have BOTH struggled on the exams and we do not also see a consistent record of homework completed.

  • Please stay on top of your weekly work, if you are struggling on the exams yet come to class and have a good homework record, you are going to be able to pass and perhaps do better.

  • Note, now that the two midterms are done, you can still do extremely well in the class. You will have a chance to demonstrate your command of trade and supply-and-demand and the big picture questions about the role of the knowledge problem in helping us coordinate as we head into the final. If you can command those things, and argue in good faith the challenge nature of applying economics to our world, you can do extremely well in the class.

Recitation information

There is NO recitation this week, we will pick it up the week of November 12th to 14th and it will be a doozy. Your rumination for that week will also be based on the recitation.

Other class admin, TA hours

TA Office Hours: Look for an announcement from Katherine!

My Availability: Call or text me if you would like to chat. I can be reached at 585-478-2677. Am hoping to get to the Hobart football tomorrow at noon,

Stay up to date with office hours at tiny.cc/RizzoHours. There is lots of other information on that site beyond office hours times. Wednesday’s office hours will be help in sync with ..

Upcoming Special Events

Politics and Markets Project Annual Fall Panel

What: “The Robots Are Coming: Will AI Take Your Job?

When: Wednesday, November 5th

Time: 7:30pm to 9:00pm

Where: Wegmans 1400

The Panel: The panel will feature experts with diverse perspectives on technology and the economy. Molly Kinder of the Brookings Institution studies how automation affects workers and inequality. Will Rinehart of the American Enterprise Institute focuses on how innovations like AI shape job creation. Moshe Vardi, a computer science professor at Rice University, has warned that AI will be a net job destroyer. They’re coming to Rochester to discuss how AI is changing the future of work—and what that means for young people entering the job market. There will also be an opportunity for students to ask questions during the panel.

A poster of a robot at a table AI-generated content may be incorrect.

(we will do office hours PRIOR to this event and then walk over together, at the moment we will meet at 615pm at my office, would love dinner somewhere instead!)

The Department of Economics will be hosting several additional events this fall, TBA, coming soon!

Expected Guests/Topics: Paul Bloom on Empathy/Compassion; David Livingstone-Smith (philosopher); Victor Haghani (money manager)

Some Items That Caught Our Attention

– HALLOWEEN SPECIAL EDITION

Ghosts are Rational: “This paper provides research to show that ghosts are indeed rational actors and, as such, refrain from the practice of killing living entities. The paper concludes by discussing the impact that this result could have on the housing market”

Facts About Ghosting: “13–23% of adults have been ghosted by a romantic partner. Add in friends, and we’re talking 72% of people reporting they’ve been ghosted at least once. 20–40% have either been ghosted or done the ghosting.” More here. Should there be a tax on ghosting? Solve for that equilibrium.

Tricked: Living standards during wars were worse than the data tell us.

The Devil’s Path (in the Catskills) makes the list of America’s Most Haunted Hikes

WitchTok and Winemaking: “Future 40 Tastemaker Nancy Ulloa, the self-described “wine witch” behind Ulloa Cellars, infuses her bottlings with “metaphysical and spiritual methods.” She gives offerings to the vineyards prior to harvesting her grapes. She uses crystals and recites affirmations during the fermentation and aging process.”  

In rural villages, broomsticks were also often used as a form of signage by alewives, who would place them outside their cottages to show that ale was for sale within. Somehow, this innocuous object found its way into stories of witchcraft.

First There Was Al Capone, then the Cubs, Now … “Where are all these pumpkins coming from? From right here in Illinois, which grows far more pumpkins than any other state, and it’s not even close. In a recent year, Illinois grew 634 million pounds of pumpkins, making it a $200 million industry in the state. In second place? Indiana, with 161 million pounds.

“We are not only No. 1 in production, we are about three times as big as those other states,” says Mohammed Babadoost, a plant pathology professor at the University of Illinois, and the state’s leading pumpkin expert. “We are truly the pumpkin state.”

In the 80s it was razor blades … today? “A police department in Michigan issued a warning to community members after uncovering counterfeit candy and snacks containing THC and hallucinogenic mushroom products while executing a search warrant at a local residence.”

Haunted (Affordable) House: “Despite its name, it’s often not particularly affordable to build: California affordable housing costs 1.5x as much to build as market-rate housing. Partly this is because of the various hoops the government requires affordable housing developers to jump through. In Chicago, apparently developers are required to provide records showing if they’ve ever “invested in or profited from slavery”

We May Love Pumpkins Now. A history of the Pumpkin in the US … “"It really did not take long for it to develop this figurative use," she says, adding that by 1680, pumpkin was "applied contemptuously to a person who's a bit conceited or self-important or stupid."

Are You a Dark Coper? “The third, "Dark Copers", saw it as a way of dealing with real life. They reported watching horror films to explore how violent the world is, for instance, and to remind themselves of how safe their own lives were in comparison to the gore on screen. Some even saw the onscreen action as a way of managing their anxiety or depression. It was a way of testing their bravery.“ More on the paradox of horror films.

The key question is not whether you’d buy one, but whether you’d get it at a premium or a discount! Americans would consider buying a haunted house.

Dress Up as a Knight > Dressing Up as a Samurai?

“Reports of demonic possession were popular. Before his ascension to the English throne, King James VI of Scotland published a literary treatise on demonology in 1597. He argues that “assaultes of Sathan are most certainly practized” and “detestable slaves of the Devill” live among us. Demon vs. Ghosts.

Dressing Up Prob and Stats

Do 55% of Your Calories Really Come from Ultra Processed Foods?

Not Playing Dress Up (or as MR would say, “Those New Service Sector Jobs, but not quite”): “Giles has cleaned in rooms containing skeletons in beds and armchairs, skeletons wearing leather belts, leather shoes, all that remains of someone’s clothing after a decade or more of undisturbed decay. He has dug out hoarders who’ve accidentally interred themselves, dying like pharaohs inside mausoleums of boxes, videotapes, magazines. He once collected hundreds of used needles from an abandoned train depot in Bath. Towards the end of that job, working in the dark, one of his colleagues disturbed an addict, who promptly added another needle to the total before wandering off. When a truck driver misjudged a hill in Devon, Giles’s office got the call to pick up hundreds of oily, slippery pig skins from the road.”

How do we handle the data of the deceased?

Unlike nihilism, with which cosmicism shares some similarities, the focus is on how small and incidental humanity is. Lovecraft’s characters are often placed in situations where they come face-to-face with the cold, uncaring vastness of the Universe, their inability to affect change in any meaningful way, or aliens so bizarre that their minds cannot comprehend them or integrate them into a coherent worldview.  

“I Got ADHD in my Bag”: The practice of medicine relies on accurate diagnosis. However, the diagnosis of many medical conditions involves assessments that invite varying degrees of subjectivity. External and arbitrary factors can influence physicians’ diagnostic assessments in conditions ranging from heart attacks to neurodevelopmental conditions like attention deficit hyperactivity disorder (ADHD). Quantifying this subjectivity is challenging, however, particularly for neurodevelopmental and psychiatric conditions where subjective assessments of behavior are common and important. Halloween, a holiday characterized by excitement among children, could present a natural experiment to study subjectivity in diagnosis, if any ensuing behavioral changes influence diagnosis rates of ADHD. Using data on over 100 million physician office visits, we compared ADHD diagnosis rates, by day, among children seen by physicians in the 10 weekdays surrounding seven Halloween holidays. The rate of new ADHD dia! gnosis was 62.7 per 10,000 child-visits on Halloween, compared with 55.1 during surrounding weekdays, a 14% increase. There were no increases in diagnoses of several neuropsychiatric disorders with diagnostic criteria that are less focused on hyperactive behavior. Our findings highlight subjectivity in ADHD diagnosis and support the need to consider external factors that may influence diagnosis

Outfoxed, Rambo Edition: “Until then, eradicating predators in an enclosed area, while difficult, was a standard process. But Rambo was not a standard fox. It’s believed he became incredibly wary after losing his mother to a trap and his sibling to poison bait. Over four and a half years, he evaded 10,400 traps, 3,500 poison baits, 73 stakeouts, and 55 days of scent-tracking dogs. This was more than just an animal’s struggle for survival; it was a victory of wits and instinct over technology. Rambo’s impact was much bigger than just his own survival. This single fox single-handedly delayed a multi-million dollar conservation project for years. Because of him, scientists had to change their plans and create a smaller, second safe zone inside the main area. He wasn’t just a predator; he had become a strategist dictating the project’s terms.”

DING DONG THE CLIMATE CATASTROPHE WITCH IS DEAD:

Ding Dong, Climate Change Costs Fall Again: India’s monsoon season was unusual this year, but many farmers there had new AI weather-forecasting tools to help them ride out the storms. Google’s open-source artificial intelligence model NeuralGCM and the European Center for Medium-Range Weather Forecasts’s AI systems are making sophisticated and granular forecasting data available to even the smallest farms in poor areas. Thanks to the open-source AI, and decades of rainfall data, the Indian government sent out forecasts to 38 million farmers to warn them about looming monsoons.”

Ding Dong, Climate Change Costs Fall Again: “New Earth-mapping satellite captures North Dakota farmland and Maine's coast in detail; the joint US-India mission will track shifts in land and ice to help forecasters and first responders address natural disasters”

Ding Dong the cost of climate change has fallen again: “Three cities in Colombia saw a dramatic fall in the incidence of dengue in the years following the introduction of mosquitoes carrying Wolbachia, a bacterium that prevents the insect from transmitting viruses. In neighbourhoods where the Wolbachia mosquitoes were well established, dengue incidence dropped by 94–97%”

The Cost of Climate Change Has Fallen Again: Mosquito edition.

The Cost of Climate Change Has Fallen Again, Part 2: Mosquito edition part two

Chart of the Week

Methinks it’s not the universities. Also, did you know that over SIXTY PERCENT of Harvard Grades are an A.

A screenshot of a computer AI-generated content may be incorrect.

Photo of the Week

Two of my dearest former students. They met as TAs in my Econ 207 class, and well, the rest is history, Here they are enjoying their honeymoon.

A person and person standing on a mountain AI-generated content may be incorrect.

Film, music, cultural item of the Week

Not for everyone, but this week it was the Springsteen biopic.

A screenshot of a music album AI-generated content may be incorrect.

They Said It

Poor man wanna be rich

Rich man wanna be king

And a king ain't satisfied

'Til he rules everything

I wanna go out tonight

I wanna find out what I got

…

For the ones who had a notion

A notion deep inside

That it ain't no sin to be glad you're alive

I wanna find one face

That ain't looking through me

I wanna find one place

I wanna spit in the face of these

Badlands

– Bruce Springsteen

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