The ultimate test of any economic theory is whether it improves real-world decisions.
任何经济理论的最终检验标准是它是否能改善现实世界的决策。
Markets are not perfect, but well-designed ones come close.
市场并不完美，但设计良好的市场接近完美。
The most important skill for an economist is the ability to think clearly about trade-offs.
经济学家最重要的技能是清晰地思考权衡取舍。
The value of an economic model lies in its ability to explain and predict.
经济模型的价值在于其解释和预测的能力。
In economics, small changes in rules can lead to large changes in outcomes.
在经济学中，规则的小变化可能导致结果的大变化。
The best designs emerge from a deep understanding of both theory and context.
最好的设计来自于对理论和背景的深刻理解。
The study of auctions teaches us about the broader workings of markets.
拍卖研究让我们更广泛地理解市场的运作。
Economic progress depends on both new ideas and better implementation.
经济进步既依赖于新想法，也依赖于更好的实施。
The most effective policies are those that align individual and collective interests.
最有效的政策是那些能协调个人和集体利益的政策。
Markets are human creations, and like all human creations, they can be improved.
市场是人类创造物，和所有人类创造物一样，它们可以被改进。
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