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John Morgan
One of the leading economists studying online markets
One of the leading economists studying online markets
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We often make a sharp distinction between paid and unpaid work, especially as applied to eligibility for government benefits. I offer a story of another faraway land that does this, and its effects on their society.

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How much is life worth? It's an important practical as well as philosophical question. Economists often measure such things by revealed preference--valuing what risks to life will someone undertake. But courts have also gotten in the act, as I describe in this piece.

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Another prediction of the slow death of sponsored search advertising. This is the second place where I read that people on mobile devices don't search (much). I'm sure the data bears this out, but what the heck do they do instead? I use my smartphone as, basically, a small laptop, so search happens at about the same rate. Apparently, I'm anomalous.

The bit about the rise of Amazon, to me, is more fundamental. If people divide their search between fact search (done on Google) and product search (done on Amazon), that truly will be disastrous for Google both in terms of traffic and, far more importantly, lead quality. This time, my own behavior reflects this trend, (but I never viewed Google as the best place to search for specific products.)
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