Totally ignoring their taste, an economist would have a surprising reason that explains why we love our Girl Scout Cookies.
Recent research explains that our yogurt choice fatigue at the supermarket is rather similar to what we experience when buying a car.
Adding to the value of a good or a service, firms in the top 15 global brands like Apple and Amazon have our loyalty by distinguishing what they produce.
The reason that we cannot resist limited edition drinks like a Starbucks Pumpkin Spice Latte is diminishing marginal utility.
With social media telling us everything our friends are doing and much more, many of us experience FOMO (Fear Of Missing Out).
When previously worthless byproducts like coffee bean husks, chicken paws, and hog snouts became popular, we increased our economic efficiency.
Recent research explains why and when we experience choice fatigue after seeing the alternatives at a salad bar or options at an auto dealer.
In the high-occupancy toll lanes outside of Washington D.C., you could pay close to $4.00 a mile. Just for a 9-mile stretch along Interstate 66, the toll has totaled $40.00. Should economists applaud? Controlling Congestion On December 5, 2017, commuters…
Flooding 34 times in 32 years, a $69,000 home in Mississippi received close to $663,000 in payouts. Similarly, for 16 floods in 18 years the owners of a Houston home valued at $115,000 got $800,000. The insurance industry calls them…