OK, I said earlier that I don't like mixing football and economics. But this is a minor exception.
Q: What is an example of 'substitution goods'?
A: Steven Gerrard and Frank Lampard.
Q: What is the example of 'complementary goods'?
A: One of either Michael Carric or Owen Hargreaves to either one of Gerrard and Lampard.
Q: What is an example of 'non-increasing return to scale'?
A: Having: 1) a 31-year old David Beckham, and 2) Frank Lampard. OK, Beckham is truly the best crosser and deadball specialist. But he makes it up by slowing down the game. He can't pass an opponent and are often easily beaten. Virtually, most of England's threat came from the left. And Lampard -- his passings are awful, and he baloons the ball too often. And worse, he's a Chelsea player!
Q: What is an example of 'opportunity cost?'
A: By dropping Beckham and installing Aaron Lennon in the right wing, how many potential goals should England sacrifice, vs. the potential of getting more goals from the change in style.
Q: What is an example of 'sunk cost?'
A: Eriksson's decision to bring 2 half-fit, one nonprolific and one inexperienced strikers. (Now as Owen is totally injured, he's left with 3.
World Cup
"we don't really keen on capitalizing the World Cup fever by offering special menu on footballnomics or econofootball"
ReplyDeleteActions speak louder than words. Somehow you are not being convincing by posting three entries on World Cup, including link to previous posts and "exceptions" of footballnomics :-D
At least we are not trying to deny its importance. Globe indeed almost stop rolling in Europe during World Cup.
God bless Totti! Viva Itali!
"not being convincing"? You're being generous, Berly. Note also the "#1" in the title. Usually only sequels have numbers (e.g., Rocky II, Superman II).* It's clear that this is NOT going to be the last exception.
ReplyDeleteNow, can you imagine how many of our posts will be on footballnomics had we not declared the Cafe as a World Cup free zone?
*A notable exception is Mel Brooks' History of the World: Part 1(there's no Part 2). But I digress.
ujang, i thought the manajer has not set the cafe as "the world-cup-free zone". Even though i must say it's quite a relieved that cafe did not much discuss about WC (hah, what a coincidence) topics... well, until ap showed up of course...
ReplyDeletewell, how many more days? two weeks? well ok... try to live with that... altough manager, can you do something about this? like limiting ap's writing about soccer to some number per day. i know you don't like "regulation"... but can you manage?? =D
ujang, i thought the manajer has not set the cafe as "the world-cup-free zone". Even though i must say it's quite a relieved that cafe did not much discuss about WC (hah, what a coincidence) topics... well, until ap showed up of course...
ReplyDeletewell, how many more days? two weeks? well ok... try to live with that... altough manager, can you do something about this? like limiting ap's writing about soccer to some number per day. i know you don't like "regulation"... but can you manage?? =D
Interesting examples :)
ReplyDeleteBut is Gerrard's service and Lampard's service really substitute?
I mean, in a sense that an increase in the "price" of Gerrard's service leads to an increase in Eriksson's demand for Lampard's service in one particular match.
Dhani - that's it.. No soup for you!
ReplyDeleteoh my God AP... have i become such annoyance? *wink
ReplyDeletehope not... and btw, i can live without the soup... just as long as i'm allowed to sip the latte...
no worries, i will not bother the SOCCER ( i don't want to confuse it with "american" football... hahaha) games anymore during the world cup. But promise me, whoever wins, you will discuss the World Cup for at most 3 days after... promise??? no more!! arrrggghhh!!!
OK Dhan... as our customer you have all the right.. to remain silent.. :-) Everything you say can and will be used as the basis to post another football-related entries...
ReplyDeleteSeriously mate, I can't believe you put Gerrard and Lampard as substitution goods. Is your heart feeling a wee bit blueish nowadays?
ReplyDelete