Ashley Hodgson
Ashley Hodgson
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Economics as the Study of Scarce Resources
This video explains why many economists define our domain of study as “the study of scarce resources”.
Переглядів: 1 153

Відео

Upstream vs. Downstream Firms
Переглядів 7364 місяці тому
This video explains the difference between upstream and downstream firms in economics. These terms are often used when describing firm mergers.
Economics: A Toolset of Concepts or an Object of Study?
Переглядів 5234 місяці тому
This video looks at the field of economics from two different lenses: (a) the toolset / lens of the microscope and (b) the object of study (“the economy” / scarce resources).
Evolutionarily Unstable Nash Equilibrium
Переглядів 7724 місяці тому
This video explains how to figure out whether a mixed strategy Nash equilibrium is stable or unstable. This example is unstable.
Solving for Mixed Strategies Nash Equilibrium (Example)
Переглядів 7 тис.4 місяці тому
This video goes through an example of solving for mixed strategies Nash equilibrium. This example goes along with my video on evolutionarily stable Nash equilibrium:
Evolutionarily Stable Nash Equilibrium (vs. Unstable)
Переглядів 1,5 тис.4 місяці тому
This video explains what evolutionarily stable Nash equilibrium are, and goes through an example of testing for stability. Video solving the mixed strategies Nash problem in this video: ua-cam.com/video/xBj4UeLXt3w/v-deo.html Video on the Game of Chicken: ua-cam.com/video/Q1DVAFRuAtI/v-deo.html
Nash Equilibrium with Multiple Strategies
Переглядів 1 тис.5 місяців тому
I go through a Nash equilibrium problem where each player has 4 strategies.
Nash Equilibrium with 3 Players
Переглядів 3,5 тис.5 місяців тому
I show you how to find the Nash equilibrium in a 3-player game.
Technological Externality Model
Переглядів 6596 місяців тому
This video explains why a market for technologies can have positive externalities for people who inherit those technologies down the road.
Price Discrimination Through Waiting
Переглядів 7077 місяців тому
This video explains how firms price discriminate by causing lower-tier customers to wait.
The Lerner Index in Monopoly Economics
Переглядів 2,7 тис.7 місяців тому
This video explains the Lerner Index in the economics of monopolies.
Cost-Effectiveness vs. Cost-Efficacy in Healthcare Economics
Переглядів 6717 місяців тому
This video explains the difference between cost-efficacy and cost-effectiveness in healthcare economics and healthcare systems policymaking.
Why do economists use elasticity instead of slope?
Переглядів 1,1 тис.7 місяців тому
This video explains why economists prefer to use elasticity rather than slope when describing the shapes of curves, including demand curves.
Income Elasticity of Demand vs. Regular Elasticity of Demand
Переглядів 4918 місяців тому
This video explains the difference between income elasticity of demand and regular elasticity of demand.
Cross-Price Elasticity vs. Elasticity of Demand
Переглядів 1,4 тис.8 місяців тому
This video explains the difference between cross-price elasticity and elasticity of demand. I explain how cross-price elasticity relates to substitutes and compliments.
Elasticity in Economics
Переглядів 1,2 тис.8 місяців тому
Elasticity in Economics
Symboling in Institutional Economics
Переглядів 6268 місяців тому
Symboling in Institutional Economics
Prescriptive vs. Proscriptive Rules
Переглядів 8198 місяців тому
Prescriptive vs. Proscriptive Rules
Common Property vs. Public Property vs. Open Access Property
Переглядів 8029 місяців тому
Common Property vs. Public Property vs. Open Access Property
Externality vs Externalization of Harm
Переглядів 3789 місяців тому
Externality vs Externalization of Harm
Transaction Costs
Переглядів 2,2 тис.9 місяців тому
Transaction Costs
Property Rights: Definitions & Traits | Inalienability, divisibility, etc
Переглядів 8399 місяців тому
Property Rights: Definitions & Traits | Inalienability, divisibility, etc
Technical efficiency vs. economic efficiency vs. dynamic efficiency
Переглядів 2,4 тис.10 місяців тому
Technical efficiency vs. economic efficiency vs. dynamic efficiency
Announcement: Mini Course on Economic Modelling
Переглядів 1,7 тис.10 місяців тому
Announcement: Mini Course on Economic Modelling
Information Paradox in Economics
Переглядів 1,2 тис.10 місяців тому
Information Paradox in Economics
Organizations vs. Institutions: What’s the difference?
Переглядів 3,2 тис.10 місяців тому
Organizations vs. Institutions: What’s the difference?
Search Costs in Institutional Economics
Переглядів 77611 місяців тому
Search Costs in Institutional Economics
Search Costs in Economics
Переглядів 1 тис.11 місяців тому
Search Costs in Economics
Internal Institutions vs. External Institutions
Переглядів 1,2 тис.11 місяців тому
Internal Institutions vs. External Institutions
What is institutional economics?
Переглядів 6 тис.11 місяців тому
What is institutional economics?

КОМЕНТАРІ

  • @hex2637
    @hex2637 11 годин тому

    These two phenomena singlehandedly debunk the notion that monopolies only occur when the government intervenes. They make larger companies more efficient which then allows them to outcompete smaller companies, eventually getting into a monopoly/oligopoly position. A truly free market will thus always abolish itself.

  • @lenaxls6295
    @lenaxls6295 День тому

    Really helpful. Thank you !

  • @InCaseofEconStruggles
    @InCaseofEconStruggles День тому

    These are great videos!

  • @xeinakingdom
    @xeinakingdom 2 дні тому

    really lovely explanation, i will be looking at your other health economics videos

  • @kevalan1042
    @kevalan1042 5 днів тому

    why would the person dating prefer to defect and get a higher payoff by acting like they're just friends? This example makes less sense to me than the others

  • @saradistefano5193
    @saradistefano5193 6 днів тому

    There is a mistake. If f1, player 2 is playing C, and player 1 can choose whether being king and playing C so that player 2 takes 8, or being mean and choosing D so that player 2 ends up with 0. So f1=(0-4)/(8-0)=-1/2.

  • @MiriamFoley
    @MiriamFoley 6 днів тому

    Thank you very much you made it so easy

  • @rikukawakami3737
    @rikukawakami3737 6 днів тому

    I would like to ask few questions. 1. Does that mean, if we were to get any medical treatment, it may cost a lot of money? 2. Does this happen because there aren’t any incentives for physicians or patient to think about cost? 3. So basically, the cause of rising medical spending is the advancements in technology? Don’t have to answer all but I would like to hear your thoughts if possible.

  • @kidannguse-vu1in
    @kidannguse-vu1in 7 днів тому

    How was doing in a SPSS?

  • @christophermwape6750
    @christophermwape6750 8 днів тому

    It is so unique and vital how you explain the allocation mechanism to doctors per patient.

  • @christophermwape6750
    @christophermwape6750 8 днів тому

    How is it done in terms of those on 65 years average on Medicare allocation

  • @IttyBittydelivery
    @IttyBittydelivery 10 днів тому

    Thank you for showing and your clear briefing description are very effective ❣️

  • @255gurvendersingh8
    @255gurvendersingh8 10 днів тому

    Love from India ❤

  • @joshhamilton7965
    @joshhamilton7965 11 днів тому

    Is there any psychological studies, where human agents will overshoot their next strategy in response to the poor pay-off of the previous strategy? For example If Player 1 keeps going left, will they likely and consistently overshoot to the right in response? Or is this dependent on the individual and context of the game?

  • @marodimbawala4723
    @marodimbawala4723 11 днів тому

    Thanks I get u madam Love youuu

  • @modous
    @modous 11 днів тому

    This explains so much why I’ve gotten some rude doctors that I’ve chosen not to go back to.

    • @modous
      @modous 11 днів тому

      Forgot to add I got a bill that I owe an amount for capitaiton adjustment. Which brought me to your video, I don’t see why as a patient I would need to pay. I could be wrong, but will keep researching and calling my insurance

  • @cocoarecords
    @cocoarecords 13 днів тому

    Thx

  • @richardmwila690
    @richardmwila690 13 днів тому

    Thank you you so much 👏

  • @muhammadkumaylabbas8513
    @muhammadkumaylabbas8513 14 днів тому

    This was really well explained thank you very much!

  • @minimonie9825
    @minimonie9825 16 днів тому

    Very informative. Thank you so much!

  • @ChristianTv216
    @ChristianTv216 17 днів тому

    So here MR=MC doesn’t apply

  • @mentalmachete2273
    @mentalmachete2273 18 днів тому

    There are new bidders at where I buy auctioned items. Newcomers try to win everything, leaving nothing of value to us oldies. Us oldies have an unspoken agreement to keep prices reasonable. What I’m currently doing to exhaust the newbies is bid my max early, and when doing so the newbies outbid. They’ll eventually burn out, and the oldies will be able to win again.

  • @shirali_ali
    @shirali_ali 18 днів тому

    Amazing video and explanations, thank you for going through the examples one by one that's always what I find the most helpful to understand the definitions! :)

  • @DhitasriRoy
    @DhitasriRoy 19 днів тому

    Thank you Ashley

  • @78Piovesan
    @78Piovesan 19 днів тому

    I do not agree. Economics studies “choices when there is scarcity” not “scarse resources”. If people, firms or governments do not have “choice” there is not economics.

  • @freddygreen1236
    @freddygreen1236 20 днів тому

    w vid

  • @DuranMediaSolutions
    @DuranMediaSolutions 21 день тому

    The use of that scripture has NoThing to do with Money. (Context is everything)

  • @khadijahamid6905
    @khadijahamid6905 21 день тому

    i think the problem is in my brain not withanyone anymore

  • @DeepakKumar-kg2fg
    @DeepakKumar-kg2fg 21 день тому

    The great Explanation... Easy and time saving🎉

  • @vanshmittal8760
    @vanshmittal8760 22 дні тому

    much better than uni professor. amazing.

  • @BurmaSprauve
    @BurmaSprauve 22 дні тому

    I think p=2/3 not 3/7

  • @blair2798
    @blair2798 22 дні тому

    Huh!! As clear as mud.

  • @SelfStudyEgyptian
    @SelfStudyEgyptian 22 дні тому

    I ask myself that question and search about answer for long time back to 2015 and I get to know that the are many reasons one of them it is easy to get equilibrium points by using inverse relationships and also to connected with another equation to get multiple theories links together. Another reason maybe because we look at thing from customer point of view as he or she look at price first and then decide to buy or not . Ant the end, I don’t know what is exact reasons but that is what I found and I think especially I am not economist I am an accountant. Regards,

  • @yakiuptopdemir9084
    @yakiuptopdemir9084 22 дні тому

    Ashley, You are the best .Thank you!

  • @MJPerformance88
    @MJPerformance88 23 дні тому

    Imperfect competition resets market rules.

  • @alkasharma5132
    @alkasharma5132 24 дні тому

    wrong explanation

  • @theditto69
    @theditto69 24 дні тому

    I’m currently listening to “thinking in systems “ on audible. I found your UA-cam and appreciate your review. Thank you! I’m trying to understand “stock” or “accumulator”, using Amazon package delivery. 1. There are roads (highways and city roads), 2. postal systems (delivery trucks, addressing plans-zip codes, street names and numbers) and 3. Amazon fulfillment centers. I’m skipping how content makes it into the fulfillment center, because I want to limit the system to those 3 mentioned. Are the three systems “3 stock” systems? Or am I applying stock incorrectly?

    • @theditto69
      @theditto69 24 дні тому

      I want to understand how these systems interact and to eventually use key observations to predict common road bottlenecks and to further analyze those bottlenecks

  • @MJPerformance88
    @MJPerformance88 25 днів тому

    Great presentation.

  • @Hasanurzaman-mn7dz
    @Hasanurzaman-mn7dz 27 днів тому

    Hello Dear Sister I am regular your UA-cam video viewer

  • @realmistermischief
    @realmistermischief 28 днів тому

    First, there were 5 men, not four. Second, you are assuming that the best outcome was to connect with the blonde. That’s not a good assumption. The outcome sought was to simply connect. As he said “that’s the only way we all get laid. The goal was to get laid, which his theory gave them the best possible chance to achieve that outcome. The assumption here is that 4 drunk college guys were going to sit around the following day saying “well, I had fun with a young lady last night, but I really regret my decisions.” - said no drunk college guy ever.

  • @deepsheth4956
    @deepsheth4956 28 днів тому

    Excellent and superb explanation

  • @guedes_133
    @guedes_133 28 днів тому

    Óptima explicação!

  • @damirgabitov257
    @damirgabitov257 28 днів тому

    Thank you. I have a question. What happens, when, for example, Player 1 instead of using this mixed strategy simply will be using coin, so probability for each strategy will be 1/2. Does it mean that if , for example, game plays 100 times he would lose more (and win less) comparing with mixed strategy that we have found?

  • @Ano2nymou5
    @Ano2nymou5 28 днів тому

    ❤❤❤

  • @user-gk6xc9cy5b
    @user-gk6xc9cy5b 28 днів тому

    YOU SAVED TWO PEOPLE'S LIVES TODAY. MICRO FINAL TMW. THIS WAS SO HELPFUL I LOVE YOU.

  • @danielsaunders4058
    @danielsaunders4058 29 днів тому

    thank you

  • @Friemelkubus
    @Friemelkubus 29 днів тому

    This is really great. Could you add some sources as well? It would help me with further reading. Thanks for uploading this!

    • @AshleyHodgson
      @AshleyHodgson 29 днів тому

      Yes! The source that helped me for this series is Institutional Economics by Wolfgang Kasper, Manfred E. Streit and Peter J. Boettke: amzn.to/4bZG9tc (affiliate link).

    • @Friemelkubus
      @Friemelkubus 29 днів тому

      @@AshleyHodgson Thank you so much!

  • @lucavanwyk9076
    @lucavanwyk9076 Місяць тому

    thank you!!!

  • @melaniedove2473
    @melaniedove2473 Місяць тому

    I have been struggling in this topic. Very helpful and much more relatable examples than others have tried to explain. Thanks!!

  • @CharlesPaschal-oi7bx
    @CharlesPaschal-oi7bx Місяць тому

    Well