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econ.GN2026
Chaos and Misallocation under Price Controls
Brian C. Albrecht, Alex Tabarrok, Mark Whitmeyer
Price controls kill the incentive for arbitrage. We prove a Chaos Theorem: under a binding price ceiling, suppliers are indifferent across destinations, so arbitrarily small cost d…
econ.GN2018
Some Nontrivial Properties of a Formula for Compound Interest
Isaac M. Sonin, Mark Whitmeyer
We analyze the classical model of compound interest with a constant per-period payment and interest rate. We examine the outstanding balance function as well as the periodic paymen…