The Difference Between Academic Economists and Business People

Hal Varian,  a Berkeley economist in the Haas Business School, experienced the following while working at Google:

Varian tried to understand the process better by applying game theory. "I think I was the first person to do that," he says. After just a few weeks at Google, he went back to Schmidt. "It’s amazing!" Varian said. "You’ve managed to design an auction perfectly.

Secret of Googlenomics: Data-Fueled Recipe Brews Profitability

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