Because a firm like Uber loses revenue from unhappy riders who had delayed arrivals, we could say we are looking at apology economics.…
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.
The Facts You Never Knew About the Nobel Economics Prize
First awarded more than 70 years after the original Nobel Prizes began, the Nobel Economics Prize is worth some unexpected extras.…
Economics and the Honor System
When we pay through an honor system, retailers depend on our economic honesty while researchers are trying to understand it.…
The Problem With Free Pizza
Not knowing what behavioral economists say about “zero,” the Russian Domino’s was surprised by the response to a free pizza promotion.…
When Money Is Not the Best Incentive
Because a fine is supposed to be a deterrent, six Israeli day-care centers were surprised when their late pickup fee had unintended consequences.…
How a Behavioral Economist Explains a Frappuccino Problem
Since 1995, many of us have been consuming shamelessly decadent Frappuccinos. Just one Ultra Caramel Frappuccino with dark caramel coffee, layers of whipped cream (each topped with a dollop of caramel…
What Baby Names Tell Us
When parents choose a baby name, they could be conveying a message to the world that signals their politics and the child’s future profession.…
The Best Reasons For Later School Start Times
In addition to teens’ mental health, we can support later school start times with cost benefit analysis that focuses on the economy.…
How Phish-Tarping is a Tragedy (of the Commons)
While we know that overused resources can include the ocean, the air, and a pasture, we also should include beaches and seats.…
Why Driving is Safer in Sweden
An economist might say that the optimal number of traffic fatalities depends on the cost of preventing them. Sweden disagrees. Compared to most other countries, Sweden’s road safety is tops: In …