The Tom Green Show – Undercutters Pizza

In this sketch from the Tom Green Show, the host engages in an unconventional experiment where he shadows a pizza delivery driver. As the driver delivers orders, Green attempts to undercut the original pizza company by offering the customers a cheaper pizza from his makeshift, mobile operation, Undercutters Pizza. Despite the lower prices, customers react negatively, some even threatening violence if he doesn’t leave their property. In real markets, firms often vie for customers by offering lower prices for substitutable products.

Thanks to Kevin Carlson for the clip submission!

Gary Gulman – An Ode to Oreos

The Oreo cookie may be the best cookie of all time. Comedian Gary Gulman would agree. In this standup session, Gulman highlights the various ways that Oreos have innovated their product and even provided double the filling for no extra cost.

In the second part of the joke, Gulman highlights the ways that Oreos have differentiated their products in order to compete with other cookies. You never know what that little cookie is up to until you stop by on your way through the grocery store:

Thanks to Michael Lucas for the clip suggestion!

George Carlin — Stupider than Average

George Carlin makes a simple statistical error (unless he’s talking about a symmetric distribution) in describing the intelligence of the average person. Typically, the measure he is describing refers to the median, which would place half of the sample above the value and half the value below. Many students assume that the median and the mean are the same thing and will often describe them similarly, but averages can be prone to outliers. In this case, a really dumb person in a room full of genius can pull the average way down, but won’t change the median.

Thanks to Jeff Wooldridge on Twitter for the recommendation:

Sarah Silverman — Stop Telling Girls They Can Be Anything They Want

 

While I was listening to Hi! Bob on Audible, one of the scenes involved Sarah Silverman and Bob Newhart discussing stand up comedy. The clip in the chapter comes from Silverman’s set entitled, “We Are Miracles” and discusses the impact of priming on young women. Telling people they can be anything they want can possible introduce issues they maybe never thought were issues before. How we talk to young women often plays a role in future human capital acquisition and may lead to a form of subtle human capital discrimination.

John Mulaney– Salt and Pepper Diner

John Mulaney describes a memorable experience of trying to play Tom Jone’s What’s New Pussycat 21 times in a local diner. It doesn’t take long for diminishing returns to set in at the diner as everyone but the waitstaff loses their mind. This is a great opportunity to queu up a song on Spotify and play the same song on repeat before class. Some of your students won’t notice, but many of them will raise and eyebrow on the 3rd repeat.

Thanks to Katie Klinko for the clip reference!

Ryan Hamilton — Making it in New York

 

One of the underlying assumptions of the improvements to society from ease of migration comes from the fact that the models assume homogenous works. While there may be gains to productivity from easier migration, it doesn’t mean that workers will necessarily adapt to their surroundings. In Borjas’s book, We Wanted Workers, he points out the implications of psychic costs on movers and argues that it’s not fair to assume all workers who move will be as productive as they were at their source. This bit from Ryan Hamilton echoes that sentiment that allowing for migration may not mean productivity gains will occur if workers are unable to adjust to their new surroundings.

John Mulaney — Majoring in English

 

After receiving a donation request from his undergraduate university, Mulaney questions the purpose of college. After spending $120,000 to major in English, he realizes that he may not have actually gotten out of it what he thought he would (human capital), but instead received a lot of consumptive benefits. He doesn’t mention the signalling aspect of a college degree, but it’s implied through his analysis on the lack of training he received.

John Mulaney — An XXL Shirt

 

 

John receives an XXL shirt as a child, which was pretty useless to him. His mom suggests that he use it as a sleep shirt, but he really wants to make a comment to the person who gave him the gift. His mom explains that it’s rude to make comments about people who give your gifts, but John is quick to notice that the inefficiencies of receiving gifts that aren’t really usable.

Jerry Seinfeld — Morning Guy

In one of Seinfeld’s monologues he covers the time inconsistencies between people’s decisions late at night versus the next day.  In his latest Netflix special, Jerry Before Seinfeld, goes through the bit again with some updates. While we assume people to be rational in many models, people do odd things with respect to their own-selves that they may not do if they were forward thinking. This time inconsistency creates a lot of opportunities for discussions of procrastination, overconfidence biases, and other behavioral anomalies.

If you want more economics and Seinfeld, check out YadaYadaYadaEcon.com!

Chris Rock — Break Up

Chris Rock discusses his recent divorces and encourages couples in love to make sure they hold tight to one another. He does warn that if you’re thinking about leaving then you should probably leave immediately, perhaps after the show. A lot of people stay in relationships they don’t like being in because they’ve been together for so long, but that’s just irrational!

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