Puzzles and Paradoxes in Economics

Download or read book Puzzles and Paradoxes in Economics written by Mark Skousen and published by Edward Elgar Publishing. This book was released on 1997-05-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is full of puzzles and paradoxes that often frustrate and challenge everyone, including economists. This engaging book includes fifty puzzles and focuses on three types of paradox. First, everyday observations that appear to belie common sense (such as why some supermarket items sell for more per ounce in larger sizes). Secondly, those paradoxes which have perplexed economists in the past but have since been fairly resolved (such as the diamond–water paradox). Finally, empirical or conceptual anomalies that remain unresolved and present a challenge to today’s economists (such as the voting paradox).