A look at economics and finance through the lens of physics
Friday, March 28, 2014
Why high alcohol consumption is optimal for humans
By way of Mark Thoma, an absolutely brilliant paper by economist Paul Pfleiderer of Stanford University looking at how economists use and abuse models. As he points our, if you make the right assumptions (ignoring market "distortions" such as liver disease, DUIs, etc.), then it's possible to show in a rigorous model that "it is optimal for humans to be drinking all of their waking hours." I've written some more over at Medium.