02. U-less

Basic

348: Marginalism I

This video disproves marginal utility being demand.

293: Law of Demand This video shows how utility kills the law of demand.
294: Law of Supply This video shows how utility kills the law of supply.

Saving & Consumption

190: Fisher’s Saving I This video disproves Fisher’s Saving theory.
191: Fisher’s Saving II This video further disproves Fisher’s Saving theory.
192: Brumberg’s Saving This video proves that Brumberg’s Saving may be zero.
193: Friedman’s Saving This video proves that Friedman’s Permanent income hypothesis implies zero saving.
212: Fisher’s Consumption This video converts Fisher’s consumption curve into a line.
Trade, Family & Housing
260: Offer Curve This video disproves Scitovsky’s offer curve.
261: Offer Curve II This video reproduces Scitovsky’s offer curve.
189: Fertility II This video disproves Becker’s fertility theory.
071: Urban Density I This video shows Beckman’s failed attempt to reproduce the population density function.

Risk

132: Expected Utility This video reviews the expected utility theory initiated by von Neumann and Morgenstern.
133: Gambling I This video explains why people bet unfair games, offers stochastic explanation, and explains the St. Petersburg Paradox.
134: Gambling II This video shows how to avoid moral hazard in gambling.
135: Insurance This video shows how to avoid moral hazard in insurance.

Bargaining, Agency, & Contract Theory

016: Nash Bargaining I This video proves that Nash’s utility method to bargaining leads to unfairness.
064: Agency Dilemma I This video proves that the manager would embezzle the whole pie, had he had his own indifference curve.
065: Agency Dilemma II This video proves that the manager might embezzle more than the whole pie, if embezzlement price could be made lower.
327: GH I This video proves that Contract Theory is the same as the Principal-Agency Dilemma.
329: GH III This video shows an example of the abuse of inverse function.
038: Timing of Payment III This video shows that it is upside-down logic to pay a lazy worker higher wage, and an absent worker the whole wage.
323: Shavell I This video disproves the maximisation on expected utility.
324: Shavell II This video further disproves the maximisation on expected utility.
325: Shavell III This video discloses a blatant lie by Shavell.
326: Shavell IV This video proves that it is hard to lure worker to put more effort.

Growth Theories

167: Ramsey III This video reveals how Ramsey tried to solve the puzzle of growth, unsuccessfully.
168: Ramsey IV This video proves that Ramsey’s growth theory has zero saving.
169: Ramsey V This video reveals Ramsey’s bliss can be a blight.
176: Koopmans II This video reveals that Koopmans’ Bliss is Infeasible, and saving even destroys his bliss.
178: Cass II This video proves that Cass’s growth model is empty.

Market Failure

128: Lemons This video reveals the peculiarity of Akerlof’s lemon theory.
129: Moral Hazard I This video shows that it is impossible to bring back the two-dimensional theory from a one-dimensional function.
131: Moral Hazard III This video disproves the moral hazard theory by A&S.
130: Moral Hazard II This video shows that the theory by Arnott and Stiglitz contains only one point.
163: Addiction This video proves that Becker’s Addiction theory is indecisive.

Intervention

032: Wilful Compensation This video shows that compensation like intervention, is non-Economics
159: Regulation I This video proves that the only answer to tackle monopoly is perfect competition.
161: Regulation III This video proves that Becker’s lobbying theory is searching in the wrong direction and finds no solution.
295: Optimal Taxation II This video rejects Mirrlees’ optimal taxation theory.
029: Lindahl & Bargaining This video shows that in case of benefit everybody wants more.
047: Just Taxation I This video proves that marginal utility of cost is increasing, the reverse of the diminishing law of marginal utility.
048: Just Taxation II This video shows that Musgrave’s demand curve for public good lies below the zero-cost line.
031: UPC & Bargaining This video proves that social indifference curve is actually a utility possibility curve, a generalization of Nash’s utility solution to bargaining.

Summing UP

030: Singular Indifference Curve In statistics, a singular matrix has no solution. Social indifference curve is a singular indifference curve.
262: Singular Indifference Curve III This video reduces another utility function into a singular indifference curve.
235: Singular Indifference Curve II This video defines macro singular indifference curve.
139: Smith’s Objection to Utility This video shows how Adam Smith rejected the utility theory.

 

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