While it is tough to do happiness studies, the economists that keep trying have begun to conclude that money could indeed relate to our life satisfaction.
New marriage markets involve couples with consumption complementarities and online dating that the work of Nobel Economics Laureate Al Roth is facilitating.
When supply and demand in tennis match prediction markets created illogical prices, researchers said that 3 matches at Wimbledon might have been fixed.
Close to one third of all households (38 million) in the US live hand-to-mouth. Like me, perhaps you have always assumed that a hand-to-mouth (HtM) household is low income. Spending all disposable income each week, the hand-to-mouth household is unable…
Traditionally, marriage has been about specialization and “production complementarities.” With the husband in the labor force and the wife at home, their division of labor resembled a small factory. He supplied the income and she was the “domestic specialist.” As in the…
I discovered these wonderful economic Valentines at Freakonomics.com. They were created by Elisabeth Fosslien. This #FedValentine is from econlife: Roses are nice but money we exalt, Be my Valentine and you get the (gold)…
Behavioral economists might be able to explain our response to income inequality. In a paper on money and happiness, economist Richard Easterlin initially asks the reader how she feels if her income rises. Then he asks how she reacts when…
More wealth seems to mean fewer children. Look at a graph of fertility in the U.S from 1800-1990. The birth line plunges. Consider India, China, South Korea, Singapore. As per capita GDP rises, births plummet. See this gapminder graph for…
Although the unemployment rate is 9.2% for the entire labor force, it is 4.4% for college grads (and 10% for high school graduates, no college). But which college graduates earn more? It depends on your undergraduate major. Counseling psychology or…
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