Highly competitive markets have price elasticity; monopolistic markets do not. Transparent markets have price elasticity; opaque markets do not.

Until 1992, the word “goat” was used in sports to describe someone who made a crucial mistake to cost their team a game, with Bill Buckner’s misplay of Mookie Wilson’s “little roller up along first” in Game 6 of the 1986 World Series forever etched in the minds of..

The hospital business is a negative-sum game.

Alabama won another college football national championship last week, the seventh for Coach Nick Saban in the past 16 years. With the win, Coach Saban surpassed another Alabama coach, Bear Bryant, who previously held the record for most national championships by a..

Poker players know that if you sit down at the table and cannot figure out who the "mark" is, then it is you.