One day during college, my engineering friends, Brad, Carter and I, joked about how difficult it is to be average. The conversation sounded like this. “That guy is incredibly average.” “Yeah, what are the odds of being the exact average person? “Astronomically low really. What an amazing feat.” “Truly an extraordinary accomplishment! His parents should be so proud.” “I wish I could be that...
When Sofie and I first married (1994), I was a graduate student at Pennsylvania State University working on my Master’s degree in acoustical engineering. The first year of our marriage was my sixth year in university studies and the last push through student life, or so we thought at the time. Consequently, we were fully immersed in the character-building phase of the student lifestyle poor...
Like the rest of you, I’ve been thinking about auctions and auction theory because nothing pairs better with a beautiful weekend morning than considering the efficiency of asset pricing mechanisms and writing about it. I’m sure you’ll agree. (I asked ChatGPT to draw a picture to represent the opening sentence. This might be entirely too accurate… minus the suit and tie… and I’m not blue. But...