The Answer Is Transaction Costs

← The Answer Is Transaction Costs7 Jul · 27 min

You are NOT "Sorry I'm Late"!!

You are NOT "Sorry I'm Late"!!7 Jul27 min

Send us Fan Mail We tell a story about German academic quarter hours-- akademische Viertel-- and use it to argue that lateness is an economics problem of coordination, incentives, and transaction costs, not just manners. We lay out five rules that predict who shows up late, why the pattern spreads, and how to spot it before you commit to a recurring meeting. • the “academic quarter hour” as a rule that makes lateness predictable • lateness as a transaction cost that blocks group goals •...