We can ask why our lottery ticket spending has been $70 billion annually when we have such an infinitesimal chance of winning.…
The Upside of Texas Price Gouging
Accused of price gouging after Harvey hit Texas, the businesses that raised prices might actually have been helping people.…
Why the IKEA Effect is About Much More Than Furniture
Rippling far beyond furniture assembly, the IKEA Effect can determine how we value what we construct and cook at home, and design at work.…
The Surprising Impact of Seeing Red
Making financial decisions, we might take more or less risk because of the color of the print in our documents and charts.…
Infrastructure’s Hiding Hand
When politicians plan to update our transportation infrastructure, they are influenced by a hidden hand that can be benevolent or malevolent.…
Why Shoot-out Kicks and Bread Machines Can Be Similar
In the 2008 European Championship quarter finals, the Italian team let Spain go first for the end-of-game shoot-out. That was a big mistake. Where are we going? To the influence of a reference point. …
Why Measuring Happiness is Tough
Measuring happiness is tough because of the difference between what we actually experience and what we remember about those moments.…
A Big Problem That Needs a Little Nudge
Whether increasing tax compliance or discouraging public urination, behavioral economics can encourage socially desirable behavior with the right nudges.…
How a Cash-Free Economy Affects Your Health
Far beyond the change in our spending, a cash free economy would have an impact on our bacterial immunities and our neurology.…
What Our Pet Healthcare Spending Says
Pet health care spending could give us more insight about why human health care spending is up than insurance and regulation.…