What Lottery Winners and Losers Need to Know

Futher confirming that economics is everyday life, behavioral economists have explained why we buy tickets when we won’t be lottery winners.

How We Should (Not) Respond to Stock Market Losses

As we experience the pain of stock market losses, making it even worse, behavioral economists tell us we will sell at the wrong time.

Why Amazon Is Buying a Freighter Fleet

Just 16 years ago, we needed a $25 minimum order to get Amazon’s free Super Saver Shipping for an 8 to 10 day wait. An extra $9.48 got us two-day delivery and $16.48, one day. But then in 2009, they…

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.

The Problem With Plastic Bag Bans

Because Chicago first had a single use plastic bag ban and then replaced it with a single use plastic bag fee, researchers can compare the impact.

How Shopping For Yogurt is Like Buying a Car

Recent research explains that our yogurt choice fatigue at the supermarket is rather similar to what we experience when buying a car.

The Best Way To Measure Happiness

When we compare Bhutan’s gross national happiness (GNH) to its gross domestic product (GDP, we could decide if happiness relates to economic growth.

The New Meaning of Fast Delivery

From the nineteenth century to the twenty-first, our expectations for fast letter and package delivery have changed considerably.

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.

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 sauce), and white chocolate tops the 400 calorie threshold.…