Posts Tagged ‘Daniel Kahneman’

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Behavioral Economics: When Do We Minimize Risk?

    Nov 12, 12 • 196 Views • No Comments

    With Election Economics having concluded, for the next 4 weeks, Monday posts will focus on topics that relate to behavioral economics. Let’s start with Hurricane Sandy and my own NJ neighborhood. Really though, we will be looking at how many of us...  [read more]

  • Amazon Prime and Delayed Gratification

    Nov 9, 12 • 299 Views • No Comments

    Would you rather pay $79.00 or $95.88 for the same service? Amazon just figured out how to get the $95.88 from some people. People who sign up for Amazon Prime get “free” (but we know there is no such thing as “free”) 2 day shipping, access to kindle...  [read more]

  • California Consumers and Gas Prices

    Oct 9, 12 • 344 Views • No Comments

    How might California be responding to $5.00 gas? Let’s start with bread machines. Behavioral economist Dan Ariely explains that when one of the first sellers of bread machines placed it on the shelf, few people were interested because they could not...  [read more]

  • For most economists, historians, social scientists, it is tough to avoid research bias

    Blame, Bias and Belief

    Oct 5, 12 • 190 Views • No Comments

    Having just begun The Sense of an Ending by Julian Barnes, I wanted to share a wonderful excerpt. While this student is commenting on the origins of the First World War, his comments take us far beyond. “Indeed, isn’t the whole business of...  [read more]

  • Golf_human capital formation...000019059879XSmall

    Bogeys, Birdies and the Eurozone

    Jun 1, 12 • 217 Views • No Comments

    Analyzing more than 1.6 million putts, including Tiger Woods, 2 University of Pennsylvania economists concluded that professional golfers putt better when avoiding a bogey (a stroke over par) than when trying for a birdie (a stroke under par). The reason? Our...  [read more]