Jeffrey Ely

Jeff Ely is the Charles E. and Emma H. Morrison Professor of Economics at Northwestern University and an accomplished latte-artist. He is co-director of the Center for Economic Theory, a member of several editorial boards and co-author of the blog Cheap Talk.

Click here to blast this page, Asteroids style. Space bar fires, arrows move.

Follow @jeffely on twitter.

12

Nov 2014

Northwestern Makes List of Top 10 Most Innovative Companies… In Sports!

From Fast Company: For redefining ticket sales. Under the direction of two in-house economists, the university is testing out a new ticket-selling system for some of its games. It’s called “Purple Pricing”—like a Dutch auction, but with a twist: Prices start high and drop until tickets sell out, and fans buy whenever a price is appealing.

3

Dec 2013

The Best Piece On The Economics Of Ticket Sales

Daniel Krieger wrote this for FastCompany magazine and someone named Jeremyville added some fantastic illustrations.  Click on the full-color slideshow at the top to see the full print version of the article.  A key point I tried to make is that the secondary market is very important to primary sellers.  Primary sellers are both less

3

Dec 2013

Purple Pricing Hits The Nail On The Head

A great write-up at Crain’s Chicago Business of the tremendous success we had with Purple Pricing for the Northwestern-Ohio State football game.  A key quote: The modified Dutch auction system, which guarantees that buyers don’t pay any more for tickets than anyone else in their section, ended up selling out at $195, $151 and $126

3

Dec 2013

Me On UsesThis.com

It’s a pretty cool blog, they ask people from different walks what their productivity setup is.  I am a control freak when it comes to my hardware/software.  I have always relied on Linux and other free software because of the low-level control it affords and I run in fear every time our IT department offers

19

Sep 2013

Kellogg Podcast on Sunk Costs

Sandeep Baliga and I discuss our research on the evolutionary origins of the sunk cost fallacy.  It’s an example of a kludge, this particular one being a workaround for our limited memory capacity.  There is a general theme here which I tried to capture with this bit: We go around in our lives and we

20

Aug 2013

20

Aug 2013

Auction Scrabble

The Wall Street Journal Numbers Guy blog covered my auction scrabble idea. Besides learning that Scrabble can be fun for him when incorporating economics, Ely got some preliminary data on the true value of tiles. Aficionados of the game know that a blank — which can be played as any letter — and S are

19

Aug 2013

Freakonomics/Marketplace Podcast

I was interviewed for about 45 minutes about auctions, purple pricing, sports, advertising and in the end they went with an off-the-cuff crazy suggestion I made at the very end of the interview. http://www.freakonomics.com/tag/jeff-ely/

17

Aug 2013

The Best Interview I Ever Gave

For the blog “It’s Not You It’s The Dishes.” http://www.itsthedishes.com/1164/2010/12/economists-in-love-jeff-ely/

17

Aug 2013

HBR Ideacast on Dynamic Pricing

Sandeep Baliga and I are interviewed by Sarah Green for the HBR Ideacast.  The topic is dynamic pricing from airlines to sports. http://blogs.hbr.org/ideacast/2013/06/pricing-strategies-people-love.html Based on this article in the HBR blog: http://blogs.hbr.org/ideacast/2013/06/pricing-strategies-people-love.html

Jeffrey Ely

Jeff Ely is the Charles E. and Emma H. Morrison Professor of Economics at Northwestern University and an accomplished latte-artist. He is co-director of the Center for Economic Theory, a member of several editorial boards and co-author of the blog Cheap Talk.

Click here to blast this page, Asteroids style. Space bar fires, arrows move.

12

Nov 2014

Northwestern Makes List of Top 10 Most Innovative Companies… In Sports!

From Fast Company: For redefining ticket sales. Under the direction of two in-house economists, the university is testing out a new ticket-selling system for some of its games. It’s called “Purple Pricing”—like a Dutch auction, but with a twist: Prices start high and drop until tickets sell out, and fans buy whenever a price is appealing.

3

Dec 2013

The Best Piece On The Economics Of Ticket Sales

Daniel Krieger wrote this for FastCompany magazine and someone named Jeremyville added some fantastic illustrations.  Click on the full-color slideshow at the top to see the full print version of the article.  A key point I tried to make is that the secondary market is very important to primary sellers.  Primary sellers are both less

3

Dec 2013

Purple Pricing Hits The Nail On The Head

A great write-up at Crain’s Chicago Business of the tremendous success we had with Purple Pricing for the Northwestern-Ohio State football game.  A key quote: The modified Dutch auction system, which guarantees that buyers don’t pay any more for tickets than anyone else in their section, ended up selling out at $195, $151 and $126

3

Dec 2013

Me On UsesThis.com

It’s a pretty cool blog, they ask people from different walks what their productivity setup is.  I am a control freak when it comes to my hardware/software.  I have always relied on Linux and other free software because of the low-level control it affords and I run in fear every time our IT department offers

19

Sep 2013

Kellogg Podcast on Sunk Costs

Sandeep Baliga and I discuss our research on the evolutionary origins of the sunk cost fallacy.  It’s an example of a kludge, this particular one being a workaround for our limited memory capacity.  There is a general theme here which I tried to capture with this bit: We go around in our lives and we

20

Aug 2013

20

Aug 2013

Auction Scrabble

The Wall Street Journal Numbers Guy blog covered my auction scrabble idea. Besides learning that Scrabble can be fun for him when incorporating economics, Ely got some preliminary data on the true value of tiles. Aficionados of the game know that a blank — which can be played as any letter — and S are

19

Aug 2013

Freakonomics/Marketplace Podcast

I was interviewed for about 45 minutes about auctions, purple pricing, sports, advertising and in the end they went with an off-the-cuff crazy suggestion I made at the very end of the interview. http://www.freakonomics.com/tag/jeff-ely/

17

Aug 2013

The Best Interview I Ever Gave

For the blog “It’s Not You It’s The Dishes.” http://www.itsthedishes.com/1164/2010/12/economists-in-love-jeff-ely/

17

Aug 2013

HBR Ideacast on Dynamic Pricing

Sandeep Baliga and I are interviewed by Sarah Green for the HBR Ideacast.  The topic is dynamic pricing from airlines to sports. http://blogs.hbr.org/ideacast/2013/06/pricing-strategies-people-love.html Based on this article in the HBR blog: http://blogs.hbr.org/ideacast/2013/06/pricing-strategies-people-love.html