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9 interviews · 9 quotes
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I speak to Nobel Prize Winner, Professor Alvin Roth on 'Moral Economics', exploring repugnant transactions — exchanges willing parties want but others would ban. Drawing on kidney exchange, vaccine challenge trials, surrogacy,…
By Vikas Shah (Originally for AllAboutAlpha.com) Modern markets are hugely complex environments. CME Group for example, trades over 3 billion contracts (with a notional value of over U$1 quadrillion) each and every…
In this interview I speak to Judd B. Kessler, the inaugural Howard Marks Endowed Professor of Business Economics and Public Policy at the University of Pennsylvania’s Wharton School. We discuss the hidden…
In this interview, I speak to Devo Harris, founder and CEO of Adventr, an AI-powered video platform that enables top brands and agencies to produce, publish and share interactive and data-populated videos…
In this conversation I speak to Professor David Feldman, Director of the Birkbeck Institute for the Study of Antisemitism. David is one of the world’s foremost experts in Jewish history, antisemitism &…
In this exclusive series of interviews, we speak to seven experts on conflict and peace building. Four Nobel Peace Prize Winners; Prof. Jody Williams (Chair, Nobel Women's Initiative), Dr. Shirin Ebadi (Human Rights…
Research has shown that evolution has created the psychological mechanisms which have enabled, and emboldened the spread of faux-intellectual movements (anti-vaccination, climate-deniers) and which can explain most of our deep rooted preferences,…
How Climate Change and Environmental Damage Threaten Humanity, and What We Can Do to Protect Our Future. In this exclusive interview series, we speak to H.E. Mohamed Nasheed (Former President of the…
In these exclusive interviews, we speak to Claudia Schiffer (a globally renowned model, icon andbusinesswoman), Robin Givhan (Pulitzer Prize winning fashion writer and former special correspondent for Newsweek/Daily Beast) and Dov Charney…
From the archive
A lot of businesses these days are markets. Companies like Google make markets for advertisements, Amazon is a market in and of its own right. Uber, AirBnB and many more are becoming big businesses by creating markets.
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
If I may return to the biology analogy too; human beings get a lot of benefit from walking erect, but our backs and our feet are sometimes sore because we are made of parts that were put together before we could walk erect.
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
I use the word repugnance to describe transactions that some people would like to engage in, that other people would not like them to; it's often hard to pin-down what harm the transaction does to anyone else.
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
You only get to really redesign markets root and branch when they are failing so dramatically that everyone acknowledges it. Markets are a little like language. It's hard to change the spelling of certain words in the English language, even though those spellings are dysfunctional. Markets that are getting-along but not doing as well as they could are very hard to change.
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
Markets are human artefacts; however we often treat them as natural phenomenon in the same way we might treat a language. People are the ones who ultimately make language, but we feel have no control over it as it's such an emergent phenomenon. Markets are emergent phenomenon too, but individual market-places have proprietors and groups of users and therefore markets are more amenable to change. When something isn't working, we can change the rules!
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
To make those markets work well, they have to make the market thick, they have to attract enough participants to get good transaction levels. They have to deal with the problem of congestion that can be symptomatic of thick markets. You have to also make the market safe enough for people to transact in!
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
I use the word repugnance to describe transactions that some people would like to engage in, that other people would not like them to; it's often hard to pin-down what harm the transaction does to anyone else.
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
You only get to really redesign markets root and branch when they are failing so dramatically that everyone acknowledges it. Markets are a little like language. It's hard to change the spelling of certain words in the English language, even though those spellings are dysfunctional.
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
Markets are human artefacts; however we often treat them as natural phenomenon in the same way we might treat a language. Markets are emergent phenomenon too, but individual market-places have proprietors and groups of users and therefore markets are more amenable to change. When something isn't working, we can change the rules!
— Alvin E. RothNobel Prize-winning economist specializing in market design theory
