Hollywood’s gender pay gap displayed by Michelle Williams and Mark Wahlberg is caused by so much more than one woman’s failure to negotiate.
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The Easiest Way to Keep a New Year’s Resolution
Combining our “wants”and “shoulds” into temptation bundling, we wind up with a commitment device that helps us keep our New Year’s resolutions.
Why We Have a Christmas Tree Shortage
Christmas tree prices are up this year and supply is tight. The most likely causes are the Great Recession and the weather. A third possibility, though, is a bit less evident. This is the story: The Christmas Tree Supply Where?…
A Closer Look at the Digitization in Our Lives
Recorded music used to start with a label and an artist. The production process was expensive because of the skilled technicians and the sophisticated equipment. Add to that a music video, the physical album, the distribution process, and what do…
How Our Tipping Behavior is Changing
When we last looked at tipping, we said that it was a way to impress people (like Seinfeld’s George, below). Also we might be expressing altruism or just saying thank you for good service. But beyond all of the basics, our…
Why Albums Are Longer
We are streaming more of our music with the newest albums having as many as 45 tracks. Where are we going? To some marginal thinking. But first, a bit of history… Music Industry Revenue Does anyone remember LP records? In…
The Economics of the Pumpkin Slingshot
For the next bite of a doughnut or the next try at a pumpkin slingshot, economist Alfred Marshall’s marginal analysis helps you decide whether to say yes.
Why We Buy Our iPhones
With its newest and priciest product launch, Apple has made iPhone conspicuous consumption the reason to buy their phone.
Why It Helps to Have (Emoji) Standardization
We know that transactions are easier when weights and measures and times are standardized but do we need emoji standardization?
Why We Like Lotteries
We can ask why our lottery ticket spending has been $70 billion annually when we have such an infinitesimal chance of winning.