When researchers looked at the impact of winning the lottery, they reported some surprisimng rsults about our how our well-being changed.
What Lottery Winners and Losers Need to Know
Futher confirming that economics is everyday life, behavioral economists have explained why we buy tickets when we won’t be lottery winners.
When Winning the Lottery is Likely
Looking at 18th century France and 2022, we can see how winning the lottery is not necessarily a low probability event.
Why We Like Lotteries
We can ask why our lottery ticket spending has been $70 billion annually when we have such an infinitesimal chance of winning.
Weekly Roundup: From Fed Humor to the Wisdom of Warren Buffett
Our Posts Roundup Sunday 3.01.15 Handy notes from Warren Buffett…more Monday 3.02.15 The basics of Greek tax evasion…more Tuesday 3.03.15 Insight about airline queues…more Wednesday 3.04.15 Why we subsidize Brazilian farmers…more Thursday 3.05.15 What an ATM can teach us…more …
What We Can Learn From Warren Buffett
His 50th anniversary, Warren Buffett’s letter to his shareholders again conveys what he did right, what he did wrong and his folksy investing advice.
Our Weekly Roundup: From Being Cool to Being a Wise Investor
This week’s everyday economics stories included spillover, externalities, incentive, opportunity cost, sovereign debt, demand and financial intermediaries.
Some Warren Buffett Investing Wisdom
Guilty of probability neglect, we should listen to Warren Buffett’s advice on investing and use cost/benefit analysis whenever emotions overwhelm logic.
