When supermarkets carry fewer products, they lose the benefit of more variety but also minimize the cost of creating too many decisions.
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.
My Book of the Month: Why An Address Matters
Looking at “The Address Book What Street Addresses Reveal About Identity, Race, Wealth, and Power,” we can see how addresses matter.
Why Metrics Can Be Misleading
We can wind up with misleading metrics when the number we use as a goal becomes the incentive that distorts output decisions.
Why Taxes Are About More Than Money
Because tax systems matter, we can look at tax evasion in the U.K., at IRS problems in the U.S., and at the OECD to see what works.
How Covid Changed Commuting Time
In its 2021 Urban Mobility Report, Texas A&M tells us how and where Covid vastly changed our commuting time and our traffic congestion.
Why We Tip
Looking back and looking ahead at our tipping behavior, we can expect tips to remain a social norm that will increase.
Why Baseball Umpires Are Like Wine Tasters
Whether looking a the strikes called by an umpire or the scores from wine tasters, we would see inconsistent decisions that are called noisy.
Our Surprising Response to More Safety
When we feel protected, safety regulations can encourage the risky behavior and unintended consequences that they are trying to prevent.
Where Soda Pop Means More Than a Carbonated Drink
When some of us say “soda” and others “pop,” we are asking for a carbonated soft drink and also, perhaps, signaling our cultural differences.
How Stock Market Performance Responds to Social Unrest
While investors are right when they express concern that stock market performance reacts to social unrest, the response varies.
