<Fujifilm X-T30, XF35mmF2 R WR, ISO 160, f/3.6, SS 1/280s>

Moral hazard, asymmetric information, and adverse selection have been huge problems for a long time. They benefit only one side when making an agreement. Both moral hazard and adverse selection are main causes of asymmetric information.

Moral hazard is giving harm to someone else by using the asymmetric information. The guarantee for the retirement age of a professor is one example of moral hazard. When professors finish their 6 years of assistant professor, they receive tenure after getting judged for their performances. If they do get tenure, they can have enough time to study and research important things. It means…


<Fujifilm X-T30, XF35mmF2 R WR, ISO 160, f/5.6, SS 1/1500s>

For society to work well, people complete tasks. Completing tasks is what people do in their whole life, and it is considered important. Some people prefer to work in groups, while others like to complete their tasks alone. I would like to work on my tasks in groups.

If we work in groups, more works can be done in a shorter time. People divide their works and cooperate together. If we work individually, we have to do everything that is needed to be done one by one. But if many people work on tasks that are specialized to them, and…


<Fujifilm X-T30, XF35mmF2 R WR, ISO 160, f/6.4, SS 1/2000s>

Just a few days ago, Korea’s government lowered social distancing level from 2.5 to 1. As social distancing level got lower, the restaurants had reopened. Shilla Hotel buffet’s 2 weeks of reservation were fully booked in one day, and Songchugamago’s gross had increased 30%. Also, the government is now giving coupons to 10 million citizens, which encourages then to go out and enjoy outdoor activities. The reason why the government is taking a risk of mass infection is because the government wants our country’s GDP to get higher. The government should think of citizen’s safety first, instead of economy.

If…


<FUJIFILM X-T30,XF35mmF2 R WR, ISO 160, f/5.6, SS 1/2400s>

Perfect regularity and perfect chaos are two completely different words. Both of them are extreme expressions that can’t be possible at the time when we live. But still, if either can be feasible, I personally think that perfect regularity is better than perfect chaos.

If the world is perfectly regular, it means that human can predict everything. We will know when the crisis happens. We can prepare for it. For example, we will know the pandemic (COVID-19) would have happened at 2020 by the pattern of world. Bu preparing and being cautious about it, the number of the deaths caused…


<FUJIFILM X-T30, XF35mmF2 R WR, ISO 200, f/16, SS 11/50s>

Democracy and communism was a great issue for a long time. After the wars, Republic of Korea is now democratic state, and I also agree to the idea about democracy in our country. But I think if the society is small, communism will be better than democracy.

Citizens have a great influence on the government in democracy, and they vote for the president of their country. In my opinion, that’s where the problem comes. Voting is majority, which means the idea is accepted if many people agree to it. People who are not included in the group of majority who…


<Canon PowerShot G7 X Mark ll, ISO 160, f/4.5, SS 1/125s>

Utility is a personal satisfaction that people feel. It may be bigger or smaller in environment where one is living and experimenting. One of the important and main environmental factor is time. Time decides the size of utility that people feels. Utility of emotions also depends on time.

When human uses or does one thing steadily, they feel tired of it, and that’s when the utility increases much slowly. At first, when they’re interested at the thing they’re doing, utility increases fast though. If we used one for a long time and the utility rises slowly, people will find other…


<FUJIFILM X-T30, XF35mmF2 R WR, ISO 160, f/16, SS 1/450s>

When we develop a new medicine, it must be checked with placebo. This placebo-controlled study helps us know if a new medicine works well. This time, we had gathered people with specific illness and then divided them into two teams with same ratio of patients. One of my family had been selected as an patient in this test. He(She) knew that he(she) didn’t have much time left. I was checking the list with patients’ name written below the medicine they would receive, and that’s when I saw my family’s name underneath the word ‘placebo.’ Patients who were going to receive…


<FUJIFILM X-T30, XF35mmF2 R WR, ISO 3200, f/4.5, SS 1/20s>

All the people want their returns to be high while their risks are lower than what they want. I recently figured out that it’s impossible; it just shows how humans are lazy. If we want our returns to be high, we need to put more inputs on it, while expecting to have a higher risks. In contrast, it means that if we’re too worried about risks, we’ll need to have a less returns coming back. Among these two choices, I choose to have a higher risk and higher return.

While higher risk at least have a possibility to have a…


<FUJIFILM X-T30, XF35mmF2 R WR, ISO 800, f/9.0, SS 1/50s>

Today I went to Seoul Art Center and see Photo Exhibition. There were quite more people than I ‘d expected. Anyways, it was my first time going to photo exhibition. There were a lots of pictures there, and most of them were about disasters, mainly war and fight. The first photo I saw was taken in 1950s, and it was about one people hitting another because their opinions were different.

Almost all of the pictures were showing the reality of fights, and even killings. One of the picture that gave me the strong impression was about a man’s corpse hanging…


<FUJIFILM X-T30, XF35mm R WR, ISO 640, f/16, SS 1/50s>

Everyone will have accomplishment that they have planned and cleared. It may make them a better person then before, when they haven’t achieved it. I’d accomplished mainly three things currently; going hiking, exercising every morning and passing the school entrance test.

Firstly, going hiking helps me to loose weight, get healthy, and develop stamina. I’ve lost 3 kg in a few weeks after I started hiking. It’s an amazing process which is obviously showing that hiking consumes of energy. I can go up to the mountain that we climb everyday (Umyeonsan) quite easily now, and also can feel that my…

Sihyun Lee

Student who loves drawing and photography

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