While we all know when we are wasting time on social media, it is tougher to uncover the hidden cost that is paid by the entire economy.…
Behavioral Economics
The intersection of psychology and economics, behavioral economics looks at human tendencies that involve biology and culture when predicting and explaining economic decision-making.
How an Art Heist Is like the Government Shutdown
Whether looking at an art heist, government shutdown negotiations or a soccer shootout, game theory can explain people’s behavior.…
How Governments Nudge Us
Whether it’s plastic straw use, energy conservation, or flu vaccinations, governments use nudges to influence our decisions.…
How to Measure the Size of Our Cultural Divide
We can judge the size of our cultural divide by identifying the TV shows we watch, the magazines we read, and the movies we see.…
The Gift You Didn’t Want
Although you’ll see that the Amazon reviews for How to Avoid Huge Ships are hilarious, it’s still one of those unwanted gifts that creates deadweight loss.…
The (Hidden) Paternity Leave Problem
A nation’s generous paternity leave policy does not necessarily diminish the size of the gender pay gap or job discrimination against women.…
The New Meaning of Fast Delivery
From the nineteenth century to the twenty-first, our expectations for fast letter and package delivery have changed considerably.…
Why We Should Care About the Night Time Economy
Inadequately supported, the food, drink, and entertainment businesses in a city’s night time economy can be a valuable source of economic growth.…
Almost Everything We Need To Know About Gift Giving
Looking at what we buy and what we return, we can ask an economist and a psychologist for some gift-giving advice about our holiday spending.…
Why Superstars Dominate the Billboard Hot 100 Chart
For 60 years, Billboard, every week, has ranked the best music. Using sales, radio play, and now streaming, they tell us what we like the most. Recently though, there’s been a fundamental change…