Lebronomics   3 comments

Lebron James in actionLink: http://www.npr.org/blogs/money/2010/07/09/128413796/the-friday-podcast-lebronomics

Summary: Discussion of the potential  “happiness” impact of Lebron James’ decision whether to leave Ohio for Miami, LA, or NY. Also a discussion of aftermarket ticket sales.

Original Air Date: July 9, 2010

Length 25:42

Main story content begins: 3:36

“Planet Money indicator” Discussion of China / US currency exchange, currency manipulation debate: 1:44 – 3:23

Discussion Prompt (1) : How does this podcast relate to the concept of consumer surplus? Based on the idea of utility/happiness introduced in the podcast in what ways (and for whom) might utility have been increased by Lebron’s decision? In what ways might it have been decreased?

Follow-up Prompt (1): Consider the idea of utility as set out in the podcast. What do you think are the challenges of measuring ‘utility’?  In what ways is it a useful and important measure/concept?  Can you think of something else that we can measure that would approximate measuring utility since it can be challenging to measure utility itself? Can you find an example of ‘diminishing marginal utility’ in this podcast or think of one related to the ideas in the podcast?

Discussion Prompt (2): What do you think about the idea of a gross domestic happiness index? What might be the challenges to measuring happiness? What examples of measures or indicators of happiness can you imagine that might make up such an index?

Follow-up Prompt (2):   How might it be useful for a government to think about measuring domestic happiness in this way?  How might it be used in a way that was useful or in a way that was not?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: