Posts Tagged ‘default options’

  • the Congress...16856_3.16_000012166514XSmall

    Environmental Issues: Making It Easier To Be Green

    Aug 14, 13 • 158 Views • Behavioral Economics, Economic Debates, Environment, Households, Thinking EconomicallyNo Comments

    “Paul owns shares in company A. During the past year he considered switching to stock in company B, but he decided against it. He now learns that he would have been better off by $1,200 if he had switched to the stock of company B.” “George...

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    The Market System: Defaults and Decisions

    Jul 18, 13 • 137 Views • UncategorizedNo Comments

    Coffee: At Starbucks, I order a Grande West Java Black Eye Clover in a Vente cup. My drink requires 4 decisions. Software: Downloading software, don’t you just check the default package rather than selecting from a customized list of alternatives?...

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Presidential “Choice Fatigue”

    Sep 16, 12 • 188 Views • Behavioral Economics, Businesses, Demand, Supply, and Markets, Households, Regulation, Thinking Economically, UncategorizedNo Comments

    President Obama says he wears only gray or blue suits. As for meals, he prefers having others decide what he will eat. The reason? “Choice fatigue.” Knowing that decision-making requires energy, the President told writer Michael Lewis that he...