Predictive cost reduction based on a thermodynamic model, in which parameters associated with a process are accessed. The parameters include a quantity of units of Work-in-process at first and second times, and first and second constants respectively indicative of growth between the first and...

Presentation to John D C Little and Steve Graves

Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...

Surveillance is integral to modern societies. This paper considers the economic forces behind surveillance, the use of surveillance in the private sector, and the social consequences for the continued growth of surveillance over the past several centuries. It argues that the demand for...