Economists have often had a bad habit of preferring problems that were tractable to problems that were important. Some problems are both tractable and important, and so they are heavily studied and properly so. Some are tractable but unimportant, and they are often studied to an appalling...

Economists have often had a bad habit of preferring problems that were tractable to problems that were important. Some problems are both tractable and important, and so they are heavily studied and properly so. Some are tractable but unimportant, and they are often studied to an appalling...

Virtually all the analysis of predatory lending in the home loan market has been based on a dual-market paradigm. Sub-prime borrowers, usually less-sophisticated, lower-income, and disproportionately minority, are preyed upon. Other borrowers are not preyed upon, or if they are, it doesn't...