#economics

#economics

In a first-price sealed-bid auction, bidders are incentivized to shade their bid—that is, to offer less than what they consider the object's true value to avoid overpaying.

The first book of economics I read was The Serviceberry by Robin Wall Kimmerer. The point of this beautifully written, small book is that different concepts of economies exist.

The U.S. penny's production cost has reached nearly 4 cents, leading the Mint to announce a halt in penny production after existing stocks are depleted.

California drivers face a staggering 60 cent state tax, making their pump price $4.88—a notable $1.73 above the national average.

Retail sales volumes came in better than expected in April, largely due to very strong food sales, fuelled by warmer weather and earlier barbecuing.

Sudan's army may shut down oil export facilities for South Sudan, threatening its economy reliant on oil revenue amid ongoing civil conflict.

In a recent paper, professor Michael Miche of USC predicted that the impact could be gasoline prices of over $8 a gallon.

Money serves multiple crucial functions in the economy, acting as a medium of exchange, unit of account, and store of value, thus facilitating trade efficiently.

The index reveals that wealthier nations tend to employ non-tariff barriers more than poorer nations, which frequently depend on tariff-based restrictions for trade management.

The United States is provoking this fight, but it is Brazil that is going to end up benefiting.