Behavioral economic ideas show that product differentiation and consumer preference are more from branding than the taste of colas or beers.
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.
Alcohol, Marijuana or Tobacco: Which is Most Harmful?
When government miscalculates the negative externalities of substances like marijuana and alcohol, they waste land, labor, capital, time and money.
The Seven Ways We Pay For Free Parking
Including congestion, wasted gas, time and emissions, cheap parking creates negative externalities that variable pricing of parking spaces can eliminate.
Why Academy Award Winners Might Live Longer
Relating income inequality to the stress felt by low status Bolivian Tsimane men and academy award losers, researchers said that stress that harms health.
Is Your Favorite Economist Biased?
Illustrated through word use and data selection in research, politically liberal and conservative economists display a tendency toward confirmation bias.
What An Unemployment Rate Does Not Tell You
A single statistic like the unemployment rate for Japan, the European Union and the U.S. can be misleading until we look more closely at what it represents.
Should Water Be Free?
Although protestors in Detroit and Ireland say water is a human right, economists, citing a definition of a public good and a tornado alarm, would disagree.
The Difference That a Sticker Makes
Because “I Voted” stickers indicate voting is a social norm, like paying taxes or saving electricity, people are more likely to act like their neighbors.
Is Ebola Threatening the Price of Chocolate?
While Ebola fear caused raw cocoa futures prices to rise in September, its long term rise has been because of more demand from developing nations.
How Chinese Economic Growth Relates to Restaurants and Pilots
China might not fuel world economic growth if instead of a 7 percent real GDP growth rate forecast, we use a regression to the mean of 3.9 percent.