World Cup: Some Unpleasant Discounted Arithmetic? 🏆⭐️ How many cups have you won after discounting old wins? Count a cup N cups ago as R^N with R<1 I'm a macroeconomist, so this was inevitable. Also Argentina! 🇦🇷 (details and link in reply)

Update: Pooled Germany… (despite competing with 2 teams in '74) In this table: No value on runner ups. 2nd column R=0.85. Third column: R=0.95 (mex 86 worth 0.63).

Thanks all for all the reactions, comments and suggestions... We've update the paper!... ... might even be converging!🌀

Hey @ben_golub you've done a great thing for the profession! Big shout out to @RefineDotInk... first project I've used it for. Absolutely blown away with its "Detailed Feedback" ("overall feedback" understandably more speculative, hit & miss, but may be useful sometimes) What impressed me was... Great attention to details (e.g. notation)... … but with attention to actual logic... ... without losing... big picture or context (e.g. consistency, how things fit). Over months of writing and editing and changing things here and there, especially on a BIG and LONG project like this one, there is a lot of fixing to do and lot of cleaning up to do, of tying this up consistently, etc. and this was invaluable.

Had fun presenting our paper on a modern treatment of Tâtonnement price dynamic at the Minnesota Macro conference.

A video for those interested.

Scarf was a decade ahead of his time, putting his toes in the "Anything Goes" "Sonnenschein-Mantel-Debreu" results obtained in the 70s. Bummer: Due to income effects aggregate demands are not restricted. (We dedicated our paper to genius Rolf Mantel. My undergraduate teacher.)

Skipped a lot, lots more in paper. Link at the end. 1. we provide foundations for Walras 2. justify Samuelson's ad hoc equation, but 3. … not the same because of demands 4. reinstate Sir John Hicks 2 forces for stability A. Frisch demands! B. Forwards looking pricing!