In the 2008 European Championship quarter finals, the Italian team let Spain go first for the end-of-game shoot-out. That was a big mistake. Where are we going? To the influence of a reference point. Penalty Shoot-Outs When a soccer game has no winner, a penalty…
At two gas stations near Rotterdam, price is constantly changing. Using software that recognizes buying behavior, the retailers try to match the price to the customer. Those who are willing to pay more and those who cannot will each get appropriate price points. Done right, sales rise.…
One week ago, America witnessed the Inauguration of Donald Trump, the 45th President of the United States. From million dollar donors to glitzy ball gowns, no doubt a U.S. Presidential Inauguration has become both a historic and spectacular occasion. The…
An Uber economist tells us that people are more likely to schedule a ride during a surge when their cell phone battery is low. Where are we going? To the supply side of Uber. Uber Driver Behavior A typical taxi…
econlife®
Connecting economics with everyday life.
Located at the intersection of current events, history, and economics, econlife® slices away all of the layers that make economics boring and complex. We like economics and we would like for you to like it too.
