ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Jan
25

If Moscow Can Beat the Traffic, So Can Tbilisi!

When I left Russia back in late 2006, attempting to cross a busy Moscow street bordered on suicide. Instead of slowing down before a zebra crossing, Russian drivers were in the habit of accelerating so as to signal their intention NOT to stop. Understandably, pedestrians had no choice but to adjust their street crossing strategies accordingly. The result was what an economist might call a “bad” equilibrium. Moscow drivers would not even consider letting pedestrians cross. And pedestrians would not even try.  When visiting Moscow for the New Year hol...
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