Business Insider — Robotic Kitchen

This Boston restaurant (Spyce) uses robots to cook food for customers and can cook your meal in 3 minutes or less.  Customers order from electronic kiosks at their table and a screen displays which robot station is preparing the diner’s dish. The woks are designed in a way to ensure consistency. The only labor used in the kitchen is the “garden manager” who is responsible for adding toppings and ensuring presentation. The bowls are priced at under $8.

Thanks to Peach for the clip suggestion!

World Economic Forum — Alibaba’s Automation

A look inside the robotic warehouse of Alibaba in Huiyang, China. The robots pick up the physical items and deliver them to the workers who are in charge of sorting the orders before shipment. The robots can carry about 1100 pounds of good around the warehouse floor all while not bumping into other robots because of a laser guidance system.

Orange is the New Black — State of Uterus (NSFW)

 

There is a feud waging between C and D blocks. It is C Blocks time for some revenge, so the leader “Badison” devises a plan to defecate on C Blocks clean uniforms. Meanwhile, the guards of the prison are involved in a  fantasy prisoner league (think fantasy football, but with points for things prisoners might do or get in trouble for). The guards see what is happening and have to decide to whether or not to intervene.

Asymmetric Information –  the two guards outside of the laundry room have access to information the other guards in the league do not. Further, their decision to intervene or not will directly impact points in the game. Could use this to talk about how asymmetric information can affect the outcome of negotiations, trade, games, etc.

Cost-Benefit analysis – the guard explicitly uses this term, which I love, when deciding if they are going to intervene. C Block will undoubtedly retaliate so is the possible ensuing violence worth the potential benefit of points in the game. The guards have the compare the options before making a decision.

Thanks to Erin Yetter for the clip and the description! Check our her website as well.

Business Insider — Self-Driving Garbage Truck

Volvo has recently unveiled self-driving garbage trucks in Sweden that are designed to be operated by only on single garbage collector. The trucks match the pace of the garbage collector to allow for differences in worker characteristics. This is just one of the many ways in which automation improves the efficiency of tasks.

Hard Knocks — Carl Nassib Teaches Compound Interest

 

Athletes are notoriously bad at saving money and making smart financial decisions after coming into their fortunes. Carl Nassib, a defensive lineman with the Cleveland Browns, discusses the power of compound interest with other rookies. His goal is to convince his teammates not to go out and spend $10,000 on a needless purchase because that means they are giving up a lot more money later in life. While 10% may be an unlikely interest rate, the power of compounding interest is one of the key principles in financial literacy programs.

Star Trek TNG — Data Overanalyzes

 

Data is trying to formulate a battle plan for Commander Riker, but he’s assuming that Commander Riker is rational and knows that Data has analyzed his move. Data takes it a step further and hypothesizes that Commander Riker knows that Data knows that the commander has a battle plan. Full information is a tough assumption about rationality, but bounded rationality lets us assume that people have limitations but still respond to incentives in a predictable way. While perhaps a human failure, most of society does not operate on the same level as Data.

Thanks to Peter Nencka for the clip suggestion!

Adam Ruins Everything — Tipping & Wage Discrimination

 

Adam Ruins Everything is a half-hour informational comedy were host, Adam Conover, debunks popular myths. Each episode is divided into 3 segments with some common theme. In the Spring of 2018, James Tierney and I sat down to go through all three seasons of Adam Ruins Everything to pick out examples in each episode that could be used in an economics course. If you’re curious about the paper, you can read about it here.

In this scene, Adam discusses the discrimination aspect of tipping in restaurants. While the segment focuses on the history of tipping in the United States, this scene is poignant because so many students work as waiters or at least have been waited on. Subconsciously, they may be discriminating against minorities without realizing it.

There’s a great scene from Reservoir Dogs that covers the issue of tipping as well as an in-depth Freakonomics podcast asking whether tipping should be illegal.

Horrible Bosses 2 — Probability of a Locked Door (NSFC)

 

Nick, Kurt, and Dale head to Rex Hansen’s house with a plan to kidnap him and hold him for ransom to pay for a past business deal gone awry. When they get to the door, Kurt and Dale try to open it, but are surprised to find it locked because they believed the probability of it being locked was only 50/50. While there are only two possible outcomes, it doesn’t mean the probability of each outcome is the same.

This concept has been mistaken in other shows like Corner Gas and Young Sheldon.

Horrible Bosses 2 — Child Labor

 

Nick, Kurt, and Dale start up production on their new product, the Shower Buddy. After hiring some workers, they decide to hold a day where employees can bring their kids to work. It turns out that the kids actually started working on the factory floor and are enjoying it. At first blush, it seems like this shouldn’t be happening, but when Nick finds out how productive they have been, he walks away to change the sign instead.

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