Archive for the 'Economics 101' Category

Incentives Matter, Musing & Rambling on CIM

On my post race report on The California Interational Marathon, Lucho posited the following question: Nice job! Did you examine any mental aspects of the last 10k of the race? Looking back on it could you have run harder? I’m curious is all.. I think the central governor theory (law imo)is interesting. Did your brain [...]

Garmin 405 Endowment Effect

I am currently reading Michael Shermer’s “Mind of the Market”, and I got to thinking… Prove me wrong. I’ve looked at a lot of running blogs in the last few months. Several of these lucky bloggers have been fortunate enough to have received some products to review on their website. I have not seen anyone [...]

Survey Says!

A loaded question is a logical fallacy. It has a false presupposition that is “loaded” with supposition. Generally a loaded question tricks the person who is being asked the question to get the answered desired. I’m by no means an expert in conducting Post Race Surveys but I know that you have to be careful [...]

Vilfredo Pareto & The Heart Center of the Rockies Half Marathon

One of my biggest gripes is races that have multiple distances going on. I’ve found that they have a higher than average chance of screwing up, due to the chaos of multiple distances. I was rather critical of The Heart Center of the Rockies Half Marathon in my race review. I think this race has [...]

Vilfredo Pareto & Pearl Izumi “We Are Not Joggers”

I wrote a previous post post about Pearl Izumi and their “We Are Not Joggers” ad campaign. Recently, I was doing some reading and was reminded of Pareto and the 80/20 rule. The Pareto Principle simply states that 80% of the effects come from 20% of the causes. Vilfredo Pareto was an Italian Economist and [...]

Signaling (Economics) & Runners

In economics, signaling is a way that one party conveys meaningful information to another party. Generally this is done because there is asymmetric information and the two parties cannot easily disseminate the information. The classic example is a college degree. A college degree in and of its self does not mean that you are smart, [...]

Cost Analysis on Running Shoes

Today I had to retire my beloved New Balance 902′s. While on my 20 mile run last week, which was the death of the New Balance 902, I thought about the cost of the shoe and the depreciation of my asset. The New Balance 902 cost $100 and I ran 314 miles in them. Thus, [...]

Grandma’s Marathon & Ultima

The only thing worst then the heat and humidity at Grandma’s Marathon last year (2007) was Ultima which was the sports drink served up on the course. Before I state my opinion, let’s see what the other marathon runners had to say, these quotes are pulled from Marathonguide.com. However, Ultima does not work like Gatorade, [...]

Running & Trying New Things

People are afraid to try new things. Now, watch me spin the tangent, and in the conclusion I will bring it back to running. Friday night, there I stood examining the menu at the Asian Dinner. I thought back to a conversation I had with my best friend Iowa City Attorney while in Vancouver, seaking [...]

Price Gouging at Grandma’s Marathon

I ran Grandma’s Marathon in 2007. Duluth is a small town and Grandma’s is a popular marathon, thus lodging filled up quickly. The hotels literally book up before registration even begins, often a year in advance, thus the only option that I had in ’07 was to stay at the University of Duluth dormitories. The [...]