Behavioral economics explains that we sign up for health clubs and then don’t exercise because of unrealistic pre-commitment and upfront payment.
Our everyday economics include consumption expenditures, Pigovian taxes, variable pricing,economies of scale, unskilled labor, national income and the money supply.
In a store or restaurant, music tempo is an atmospheric tool that firms engaging in monopolistic competition can use to increase customer spending and time.
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.
Displaying some pricing power, dynamic pricing on Amazon, for airlines, Uber and elsewhere recognizes and responds to changes in demand to maximize profits.
SUNDAY 10.19.2014 The reason the Russian McDonald’s is shrinking…more MONDAY 10.20.2014 The economic impact of ebola fear…more TUESDAY 10.21.2014 How more valuable women lead to less marriage…more WEDNESDAY 10.22.2014 Why Norway has so many Teslas…more THURSDAY 10.23.2014 The damage…
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…
Retailers face the prisoners’ dilemma when deciding whether to keep next day shipping guarantees on December 23rd because a decision relates to what others do.