Why Might People Cheat?

When are people more likely to cheat? Behavioral economist Dan Ariely says to look at sweatshirts, the Ten Commandments, dollar bills and cans of Coca-Cola. In one experiment, Ariely discovered that more students would copy someone’s seemingly dishonest behavior during…

How Many People Are Hungry?

The UN says that the problem is 1 billion hungry people. Columbia University scholar Jeffrey Sachs explains that the solution is foreign aid that attacks the “poverty trap.” Then, markets can develop and people can become more productive. By contrast,…

Giving and Getting Gifts

With the holiday season beginning, we should consider the economics of gift giving. Let’s start with University of Pennsylvania Professor Joel Waldfogel who focused on receiving gifts. Then, through Duke’s Dan Ariely, we can look at how to give the…

A Bag Tax

Washington, D.C. got a bag tax on January 1. Now, any store that sells food (even a book store that sells mints) has to charge its customers $.05 for every bag they use (not just for the food but everything!).…