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.

When Does Money Make Us Feel Good?

In 1974, a University of Pennsylvania economist concluded that there was a happiness plateau. Yes, we feel increasingly good as our income grows. But not beyond $75,000. Called the Easterlin Paradox, even if your earnings continue upward, they don’t bring…

Why Recent Stock Market Fluctuations Are Tough To Explain

Looking at a Covid-19 time table, economic fundamentals, and economic uncertainty, we can try to explain recent stock market fluctuations.

Why a New Year’s Resolution Needs a Staircase

Pondering how to keep our New Year’s resolutions, we can look at the staircase in a Seattle office building.

The Downside of Gift Giving

During the holiday season, our gift giving might have less value than we expect because recipients engage in preference falsification.

The Impact of a Price on Music and Wine

Because of the impact of a price, our opinion of the music from a Stradivarius violin or the taste of a fine wine could change.

What Your Time is Really Worth

Lyft can come in handy when economists need to calculate the dollar value of time for us and for government.

How to Give a Better Gift

In somewhat unexpected ways, our opinion of a present can depend on whether the gift wrapping is sloppy or neat.

Apple’s Goldilocks Strategy

A behavioral economist can explain why a pricing strategy can become a legend when it relates to a bread making machine.

When a Mask Is Like a Lunch

Looking at the past and now, we can see the impact of non-pharmaceutical interventions for reducing COVID-19 fatalities.

When a Dating App Is Like a Can Opener

A dating app can lead to face swiping fatigue. With a slew of pictures and bios to consider, users can find it harder to select the right person. Analysts have suggested that the endless supply makes the search go on…