Posts Tagged ‘diminishing marginal utility’

  • The McRib Returns

    Marginal Analysis: The Return of the McRib

    Dec 23, 12 • 820 Views • No Comments

    The McRib is back. People wonder though, why McDonald’s doesn’t just leave it on the menu. The reason might be how we perceive that extra bite. Have you ever seen one of those newspaper devices where you put your money in and the top opens to...  [read more]

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    Too Safe?

    Sep 13, 11 • 295 Views • No Comments

    Assume for a moment that you have to decide whether to install body scanners at every airport in the U.S. Knowing a decision to proceed will make everyone safer, you say, “Yes.” But, what if you first were told that there was a 1 in 3.5 million...  [read more]

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    “Tweetquakes”

    Aug 29, 11 • 291 Views • No Comments

    Sometimes Tweets travel faster than seismic waves. And then, what happens? In this wonderful webcomic from April 2010, an earthquake strikes, people Tweet, and within seconds, the news beats the temblor’s spread. Do people run for safety? No. They send...  [read more]

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    “LeBronomics”

    Jul 14, 10 • 292 Views • No Comments

    Called “LeBronomics” by NPR’s Planet Money, LeBron James’ decision to go to Miami was about much more than $99 million. Instead, the key issue was “utils”. Whenever economists want to quantify satisfaction, they use the...  [read more]

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    Money and Happiness

    Jun 8, 10 • 236 Views • No Comments

    Does money buy happiness? A 2006 report from the Pew Research Center said yes and no. If we compare income groups, the answer is yes. Almost 50% of people earning more than $100,000 annually said they were happy. However, as income levels dropped, so too did...  [read more]