When economists focus on measuring happiness, they look at money and time and health and GDP for conclusions that might not be quantifiable.
Whether looking at childcare, boiling water, or changing a light bulb, the activities that compose household production are tough to value.
Because of research replication issues and questionable data, many academic papers need more rigor from their authors and skepticism from their readers.
Precise numbers can become misleading statistics when politicians, journalists and scholars use them for jobs projections and GDP totals.
Economists can use nighttime lights from NASA’s satellite images of the earth to decide if China’s economic growth statistics are accurate.
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.
At the BAHFest, evolutionary researchers present bogus theories that are funny but also display how we can be convinced by misleading statistics.
A single statistic like the unemployment rate for Japan, the European Union and the U.S. can be misleading until we look more closely at what it represents.
On the first Saturday in 2013, in Japan, at the Tsukiji auction, a 489 pound bluefin tuna was sold for $1.76 million. As a source of information, what does $1.76 million say to you? One journalist said it could mean:…