At any point between now and January 2013, if there is a year/year increase in seasonally adjusted CPI that is at least 10%, then I pay Bob at that time $500.It will be interesting to see who pay who, but I think I would rather be David than Bob in the bet.
If we get to January 2013, and there has not been any 12-month stretch in which the above happened, then Bob pays me $500 at that time.
Monday, 21 December 2009
Economists putting their money where their mouth is
David Henderson from EconLog and Bob Murphy have agreed to the following bet,