Default or shortcut options become more attractive when decision making takes too much energy because of choice fatigue.
Weekly Roundup: From Apple’s Chimes to Boston’s Olympics
Our everyday economics includes innovation, incentives, environment, regulation, gender,monopolistic competition, oligopoly ,intellectual property and cost,
The Sounds That Can Sell a Product
For monopolistic competition and oligopoly, firms can achieve product differentiation through sounds that are associated with one good or service.
Weekly Roundup: From Free Delivery to Expensive Coffee
Our everyday economics includes competition, progressive taxes, free trade, externalities, sunk cost, productivity, supply chain, incentives, & tradeoffs.
A New Message From Starbucks
Worried about losing sales to upscale brands, Starbucks is using competitive strategies to increase demand from affluent customers.
Weekly Roundup: From Burgers to Boomer Demographics
Our everyday economics includes disposable income,competition,externalities, standardization,entrepreneurs,federal budget, R&D, labor and dependency ratios.
Weekly Roundup: From Hot Hands to Sunk Costs
The behavioral economics ideas from our everyday economics are confirmation, expectations and projection bias, frames, temporal discounting and sunk costs.
One Reason We Think a High Price Looks Low
Through a behavioral economics lens, our reaction to a price relates to a frame or reference point that creates an association with a gain or a loss.
Explaining the Health Club Memberships We Don’t Use
Behavioral economics explains that we sign up for health clubs and then don’t exercise because of unrealistic pre-commitment and upfront payment.
Weekly Roundup: From Slow Shopping to Fast Shipping
Our everyday economics include consumption expenditures, Pigovian taxes, variable pricing,economies of scale, unskilled labor, national income and the money supply.