My most important life lesson from graduate school was in time series econometrics. Wait -- what?? Yes, you read that right, folks. Here's what I learned: Life is a random process, just like a statistical time series. There are areas of life within our control, and there … [Read more...] about Your Life As A Random Process
EconDad (Geeky)
How To Teach A Lesson To Your Child’s Class
Have you ever taught a lesson to your child's class at school? It's a fun experience. Surely you have something interesting to say. After all, you're a high-functioning, highly successful grown-up (right?)! You also have a child that admires the heck out of … [Read more...] about How To Teach A Lesson To Your Child’s Class
How To Win Any Negotiation With Your Child
Here’s the situation: You need your child to do something important -- finish her homework, clean his room, get dressed, mow the lawn, write thank-you notes, lie down for bed, whatever. You kindly ask your child to help out, and you get a strong “No” or “Not right now.” You … [Read more...] about How To Win Any Negotiation With Your Child
Trading Off Your Kids’ Well-Being
As an economist, I'm always thinking about trade-offs. Do I consume good X, or good Y? Do I invest in option A, or option B? Do I devote time and energy to task Q, or task R? Life is fully of trade-offs and decisions, and we're constantly solving this complex optimization … [Read more...] about Trading Off Your Kids’ Well-Being
How To Make Hard Life Choices
How do we make hard life choices? Have you ever really thought about it? Every once in a while, we face a big choice that impacts our lives in a major way. Do I take X job in industry A, or Y job in industry B? Do I move to the West Coast, or stay here on the … [Read more...] about How To Make Hard Life Choices