English, Article, Journal or magazine article edition: Luck or Skill? An Examination of the Ehrlich - Simon Bet Katherine A. Kiel; Victor Matheson; Kevin Golembiewski

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Bookmark: http://trove.nla.gov.au/version/51563
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Luck or Skill? An Examination of the Ehrlich - Simon Bet
Author
  • Katherine A. Kiel
  • Victor Matheson
  • Kevin Golembiewski
Physical Description
  • preprint
Notes
  • In 1980, Paul Ehrlich and Julian Simon placed a famous bet on whether the prices of a bundle of natural resources would rise or fall over the ensuing decade. Simon won the bet as the real price of the bundle fell significantly, and the result of this bet has been taken as proof that technological progress is likely overcome any Neo-Malthusian concerns about natural resource scarcity. Contrary to the popular perception, however, an examination of the price history of the identical bundle of goods from 1900-2007 shows that Ehrlich and not Simon would have won a majority of the bets over the past century and would have done so by a wide margin.
  • Natural resources, scarcity, Neo-Malthusian
  • RePEc:hcx:wpaper:0908
Language
  • English
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