Money on the Ground

1. Joke: Two economists are walking down the street. The younger onesees a dollar on the ground stoops to pick it up. The other one, an older Chicago economist, stops him: “If that was really $100, someone would have picked it up!”

2. Commenter Nigel points out that intrade puts Obama with less chances of winning than other markets. This is money on the ground. I can take $92 and buy Obama at 76% on intrade and McCain at 16% on the Iowa markets. This will give me $100 on election day, independent of whoever wins.

3. Is there really money on the ground here?

1. Joke: Two economists are walking down the street. The younger onesees a dollar on the ground stoops to pick it up. The other one, an older Chicago economist, stops him: "If that was really $100, someone would have picked it up!" 2. Commenter Nigel points out that intrade puts Obama with less chances ...