Making Auctions Work in Practice Is Worth a Nobel

(Bloomberg Opinion) — Quite literally since the days of Adam Smith, economists have been great believers in the invisible hand that guides markets. But sometimes, we give the invisible hand a little help.

When coordination problems or other complexities stop the market from finding the right price on its own, we often bring people together and discover prices through auctions. That’s the specialty of Paul Milgrom and Robert B. Wilson, two Stanford economists — and it’s the reason they received the Nobel Memorial Prize in Economic Sciences on Monday.

Auctions are everywhere, of course. People use them to sell art, antiques and houses; to find the right price for fresh fish and used cars; and to raise money for nonprofits. Auctions also hide in the backdrop of daily life, controlling the advertisements we see on the internet — and maybe even the page you’re looking at right now.

In many

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5 Keys to Making Your Car Last for 200,000 Miles

A car is the ultimate financial black hole. This depreciating asset sucks up your current savings and future wealth.



a man and a woman sitting in a car


© Monkey Business Images / Shutterstock.com


For that reason, many frugal drivers share the dream of saving stashes of cash by pushing their cars to 200,000 miles — or beyond.

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Even if you’re not a penny-pincher, driving the same vehicle for years on end can help you build a retirement nest egg or even just accumulate more “fun” money. However, a car doesn’t make it to 200,000 miles on its own. Instead, it needs a little extra TLC from its owner.

The following tips will help you increase the odds that your ride will last for at least 200,000 miles.

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1. Buy the right vehicle

It all starts with buying the right vehicle.

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Would You Benefit From Making Early Payments on Your Auto Loan?

Monthly payments make up an important element of the auto loan. The amount of money that you will pay each month depends on a number of things; such as the money you put down, the value of the car, loan term, your current income and credit score, etc. Many a times people wish to repay their auto loan earlier than their term or wish to get the loan refinanced. Understanding the effect of paying your loan early vis-à-vis making timely payments can help you in making a well-informed decision.

Pay Early or Pay on Time: The Auto Loan Question

· Are you interested in making Early Payments?

You know you are a financially adept individual when you think about paying your auto loan early rather than spending the money on frivolous things. The following pros and cons of prepayment will take you one step closer in making the right decision.… Read More

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Aging Out of EPSDT – Part X: Making Ends Meet

This final article about surviving the transition from having your health care needs met by the Early and Periodic Screening, Diagnosis, and Treatment (EPSDT) program to having to pay for them out of pocket or with extremely limited coverage gets down to brass tacks. We talked for the last two articles about ways that you could get your medical bills paid through alternative routes — now it’s time to talk about what happens when you have to choose between paying for (as an example) your electric bill… or your insulin.

Catch-22s

When you’re a disabled young adult and the Federal and State programs have all collapsed around you, it can seem as though you’re in a nightmare. If you’ve only managed to scrape together a few hundred dollars, what do you pay first, your rent or the copay for your necessary weekly doctor’s visit? In most places, the answer is … Read More

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