Individuals might experience negative utility from not consuming a popular product. With such externalities to non-users, standard consumer surplus measures, which take aggregate consumption as given, fail to appropriately capture consumer welfare. We propose an approach to account for these externalities and apply it to estimate consumer welfare f... See more
To hone your craft is to honor creation. It doesn’t matter if you become the best in your field. By practicing to improve, you are fulfilling your ultimate purpose on this planet.
The more I’m nourished by my work, the more that others have the possibility of being nourished by it too,” says Kening Zhu in “the joy of missing out on platforms.” Using comfortable tools is important if we want to make the work we’re destined to make.