Freakonomics  

Posted by teo

Freakonomics (Steven D. Levitt and Stephen J. Dubner)
Excerpts:

You might think that the sophistication of teachers who cheat would increase along with the level of schooling. But an exam given at the University of Georgia in the fall of 2001 disputes that idea. The course was called Coaching Principles and Strategies of Basketball, and the final grade was based on a single exam that had twenty questions Among the questions:

How many halves are in a college basketball game?
1. 1
2. 2
3. 3
4. 4

How many points does a 3-pt. field goal account for in a basketball game?
1. 1
2. 2
3. 3
4. 4

What is the name of the exam which all high school seniors in the State of Georgia must pass?
1. Eye Exam.
2. How Do the Grits Taste Exam.
3. Bug Control Exam.
4. Georgia Exit Exam

In your opinion, who is the best Division I assistant coach in the country?
1. Ron Jirsa.
2. John Pelphrey.
3. Jim Harrick Jr.
4. Steve Wojciechowski

If you are stumped by the final question, it might help to know that Coaching Principles was taught by Jim Harrick Jr., an assistant coach with the university’s basketball team. It might also help to know that his father, Jim Harrick Sr., was the head basketball coach. Not surprisingly, Coaching Principles was a favorite
course among players on the Harricks’ team. Every student in the class received an A. Not long afterward, both Harricks were relieved of their coaching duties."

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As it happens, economists have a curious habit of affixing numbers to complicated transactions. Consider the effort to save the northern spotted owl from extinction. One economic study found that in order to protect roughly five thousand owls, the opportunity costs—that is, the income surrendered by the logging industry and others—would be $46 billion, or just over $9 million per owl. After the Exxon Valdez oil spill in 1989, another study estimated the amount that the typical American household would be willing to pay to avoid another such disaster: $31. An economist can affix a value even to a particular body part. Consider the schedule that the state of Connecticut uses to compensate for workrelated injuries.

LOST OR DAMAGED BODY PART COMPENSATED WEEKS OF PAY
Finger (first) 36
Finger (second) 29
Finger (third) 21
Finger (fourth) 17
Thumb (master hand) 63
Thumb (other hand) 54
Hand (master) 168
Hand (other) 155
Arm (master) 208
Arm (other) 194
Toe (great) 28
Toe (any other) 9
Foot 125
Nose 35
Eye 157
Kidney 117
Liver 347
Pancreas 416
Heart 520
Mammary 35
Ovary 35
Testis 35
Penis 35–104
Vagina 35–104

This entry was posted on Feb 15, 2007 at Thursday, February 15, 2007 . You can follow any responses to this entry through the comments feed .

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