Puzzles: Penny Stocks, Discount Brokers, Better Bidding, and More | Zendy

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Puzzles: Penny Stocks, Discount Brokers, Better Bidding, and More

Author(s) -

Barry Nalebuff

Publication year - 1988

Publication title -

the journal of economic perspectives

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 9.614

H-Index - 196

eISSN - 1944-7965

pISSN - 0895-3309

DOI - 10.1257/jep.2.1.179

Subject(s) - bidding , quality (philosophy) , economics , marketing , microeconomics , business , epistemology , philosophy

In presenting economic puzzles, I have three goals in mind: some puzzles are chosen to stimulate research; others offer examples that will help undergraduate and graduate teaching; all should provide quality distractions during seminars. This feature begins with reader's comments on the first "Puzzles." Next are several speed puzzles, with answers provided at the end. Here we have two Fischer Black problems in finance and a dot game from Richard Zeckhauser. Following are several longer puzzles, for which readers are invited -nay, challenged -to submit their own answers. This issue's longer problems give you a chance to think about strategies for staying ahead (in sailboat racing to R&D racing) and not losing your head at an auction. The responses will be discussed in a future issue. Please send your answers and favorite puzzles to: Barry Nalebuff, "Puzzles," c/o Journal of Economic Perspectives, Woodrow Wilson School of Public and International Affairs, Princeton University, Princeton NJ 08544. Good luck.

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