With the music industry moving from CDs to streaming, firms like Spotify have created new supply and demand and new incentives for performers and providers.
New attitudes that value marriage less and new economics through which women have more pay and education and men work less have changed marriage markets.
Through the price system, because many consumers and businesses make buying and selling decisions for the same good or service, price conveys information.
What does a price tell you? Assume that you were going to purchase a GE Advantium 120 microwave oven on Sunday, August 12. Comparing Sears, Best Buy and Amazon’s sellers at 3 a.m., you would have seen, respectively, $899.99, 809.99 and…
At your local gas station, you might be seeing some sticky prices. Although barrels of West Texas Intermediate (WTI) and Brent Crude have steadily gotten cheaper, the price at the pump has had a less steep downward trajectory. One economic study…
Can a crowd be smarter than an individual? In The Wisdom of Crowds, business columnist James Surowiecki, says “Sometimes, yes.” Starting with a crowd betting on the weight of an ox and ending with the crowd and democracy, Surowiecki looks…
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