ECN 340 Lecture Notes - Lecture 8: Coordination Game, Thomas Schelling, John Von Neumann
10 Nov 2015
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Summary from last class: price of food is dropping, more will consume, downward slopping. Price of gasoline: has gone down, people drive more walk less, jobs are less strenuous because they loose power. Growth of out of home meals: more fast food restaurants in low income area. Minimum wage: has gone down, poverty has added to weight gain. Women"s place: women increasingly work outside the house, used to cook meals but may be too tired when they return home from their work day. Breastfeeding: fewer women are breastfeeding because of the cost (having a career; too busy), more formula is used in general. Smoking dulls the sense of smell and raises the body"s metabolism. Advances in the treatment of diabetes has reduced the full cost of over-eating; diabetes is often the by product of obesity. In the same vein, the development of laser technology to remove tattoos has increased the popularity of tattoos.
