enjoying this lecture tremendously on the day of your well-deserved accolade in Stockholm. Husband and I (PhD husband, BA in economics myself) were just discussing whether the heavy traffic in recent months in DC area can be attributed to steadily falling price of gas (in real terms it's practically being given away, and in nominal terms, whatta deal!). Husband felt that driving has pretty low price elasticity, so we concluded it's more cuz of increase in population and people's placing greater value on leisure/travel. (I opined that rise of AMZN should have reduced shopping trips to malls, etc., since mall traffic is down significantly. But there are lots of other destinations besides malls:-)) Congratulations, and drink some of that 1945 Mouton Rothschild (in one of your charts) with abandon.

Can someone explain to me then why negative opt out options and assumed preference for upgraded cable TV packages and organ donation programs proves so unpopular? People go crazy when they see that their cable bill has increased even if they like all of the new programming they get with it. Assumed organ donations haven't proven to be successful. People freak out and often families object after the donor has died.

11.06

I can't watch this. His continual use of "uh" in almost every sentence is very distracting.

Uhhhh, stop!! Uhhh!