Christopher Pissarides Econ 490 fall 2019

I believe the concept that connects all of these past blog posts is the idea of organizations which makes sense considering the class in named Econ of Organizations. While I did not write a post on structural change and transaction costs, I am able to see that these concepts show that there are sacrifices to be made if organizations want to move forward. Structural change can help optimize processes but might come at the cost of disorder during the transition period. Similarly transaction costs tells us that there are trade-offs in the market and it is important that what you are gaining is more beneficial than what you are losing. The post on opportunism presents the dilemma of an organization being able to gain an advantage or benefit but at the cost of disregarding ethics and potentially ruining their image. Blogging about the structure of teams shows me that an efficient, well working team is vital to the success of any organization as it allows for better performance at a lesser c...

The concept of Illinibucks could be extremely beneficial for students who are looking to gain an edge in different areas of the university. The first issue that would need to be addressed is that of allocation. I believe that each student should be given an equal amount of Illinibucks so that the playing field is even. If there were a way to purchase them then that would simply give an advantage to wealthier students, leaving the rest in basically the same situation as before Illinibucks. In addition, things have to be assigned values in Illinibucks corresponding to their demand or importance to students. This way things that are almost essential such as gaining priority when registering for classes would cost more Illinibucks then maybe reserving a room at the library. The university could also adjust prices as they gain data on what students are spending their Illinibucks in in order to ensure that their system works effectively. If prices are too high then Illinibucks would rarely b...