What We Did Right During the 1918-1919 Pandemic

Formulating coronavirus policy, politicians and physicians can look at the successful non-pharmaceutical interventions during the 1918-1918 pandemic.

What an Economist Would Buy at the Salad Bar

We could say that we are looking at salad bar economics when we compare the price per pound at the salad bar to the produce aisle.

How Sequences Influence Our Decisions

Shown by speed dating preferences and umpires’ strike calls, decision-making can be influenced by the sequence of prior events.

One Reason That Umpires Make Mistakes

Combining economics and psychology, behavioral economics can explain why the decision-making of home plate baseball umpires is not always accurate.

What We Are Willing to Do For Money

Monetary incentives can influence a decision and distort the information we access for our cost and benefit research.

Weekly Roundup: From More Money to Fewer Restrooms

Our everyday economics includes scarcity, tradeoffs, cost, sustainability, hyperinflation, gender issues, externalities, African development, human capital.

Less Choice Fatigue at Whole Foods

With Whole Foods ranking produce as unrated, good, better, best, they are simplifying shoppers’ decision making and minimizing choice fatigue.

How McDonald’s Creates Choice Fatigue

Default or shortcut options become more attractive when decision making takes too much energy because of choice fatigue.

Behavioral Economics: When Do We Minimize Risk?

With Election Economics having concluded, for the next 4 weeks, Monday posts will focus on topics that relate to behavioral economics. Let’s start with Hurricane Sandy and my own NJ neighborhood. Really though, we will be looking at how many of…

Presidential “Choice Fatigue”

Because with decision fatigue, the more decisions we make, the less energy we have for making decisions, so we increasingly prefer a default.