My Take on the world events
I have views too and so do you.
Friday, September 16, 2005
Thursday, September 15, 2005
Tuesday, September 13, 2005
Wednesday, September 07, 2005
I was walking across a bridge one day, and I saw a man standing on the
edge, about to jump.
I ran over and said: "Stop. Don't do it."
"Why shouldn't I?" he asked.
"Well, there's so much to live for!"
"Are you religious?"
He said, "Yes."I said, "Me too. Are you Christian or Buddhist?"
"Christian.""Me too. Are you Catholic or Protestant?"
"Protestant.""Me too. Are you Episcopalian or Baptist?""Baptist."
"Wow. Me too. Are you Baptist Church of God or Baptist Church of the
"Baptist Church of God.""Me too. Are you original Baptist Church of God, or
are you Reformed Baptist Church of God?"
"Reformed Baptist Church of God.""Me too. Are you Reformed Baptist Church
of God, Reformation of 1879, or Reformed Baptist Church of God, Reformation of
He said: "Reformed Baptist Church of God, Reformation of 1915."
I said: "Die, heretic scum," and pushed him off.
Read here for the Top 10 Funniest Religious Jokes and I am sure you will go "sheeesh" on the Most Offensive Joke at the same site...
I had been to NY and NJ a couple of weeks back I enjoyed the best "Indian Chinese" (a different cuisine altogether as explained in the post above) over there.
Those who plan to go to NJ should surely try out two places which are a must visit for an Indian Chinese Cuisine Lover. The Places are "Moghul Express" and "Nan King".
Well nothing to do with the economics but a lot to do with the economists. An interesting one anyways….
Here is the gist as given by Alex Tabarrok on Marginal Revolutions:
You won a free ticket to see an Eric Clapton concert (which has no resale value). Bob Dylan is performing on the same night and is your next-best alternative activity. Tickets to see Dylan cost $40. On any given day, you would be willing to pay up to $50 to see Dylan. Assume there are no other costs of seeing either performer. Based on this information, what is the opportunity cost of seeing Eric Clapton?
(a) $0, (b) $10, (c) $40, or (d) $50.
I have a hard time believing that this is possible but 78 percent of the economists
gave the wrong answer! This is not a hard question. There is no trick. Opportunity cost is central to economics, the people asked were among the best economists in the world, a large majority of them have taught intro econ and yet the correct answer was the least popular.
You can read the whole study here and a related NY Times article here
The answer obviously is $10.
The difference in the “perceived value” of the Dylan Concert ($50) and the actual cost of the ticket ($40).
If I try to explain this in simple terms, I would get the ticket at $40 anyways when I am ready to dole out $50 so I am losing out on the $10 (virtual) profit that I could have “enjoyed” by going to the Dylan concert instead of the Eric Clapton one.
Disclaimers – I may not be as good as Michael in explaining complex Economics in a simple way and personally though, I prefer Eric Clapton – but I do not have the “free” ticket.
I got the answer right, and before you think that I am posting this just to boast about it, let me say a modest “NO”
Now if you got the answer wrong AND you prize your “Economics degree”, or consider “economics” to be your “cuppa tea”, or just want to rant out; read this counter post on the same Marginal Revolutions. And if I have not confused you enough, go to the comments section of the same post.
I do not agree with the counter Post simply because I think the Net v/s Gross argument does not hold true in this case. The problem clearly states that “ there are no other costs” thus I think the debate is nullified. If this is the “LAST” Dylan concert on the Earth and your “perceived value” is still $50 then the $50 opportunity cost is true, but else not.
BTW – People named Amit are generally smart – You see this Amit got it right as well.
My sixth sense tells me that I need to turn off the comments on this one, but then wasn’t it I who begged for them in the first place.
Tuesday, September 06, 2005
Monday, September 05, 2005
Read for the compilation here and if you have a suggestion let her know
May the spirit stay alive and may GOD help all those who require it
Sunday, September 04, 2005
I agree but....
... as usual India managed to get itself into a mess and thanks to a timely (long due) surge by Yuvraj and Dhoni that they managed to pull itself out.
I hope this show of resillience will help us in the Finals..
Friday, September 02, 2005
Ofcourse we should be happeir about Sania, cause what she acheives today is History in the Making, she gives hope to many..... unlike the cricket victory which is not so special as Shane Bond was missing....
At least I am, are you?