For consumers and retailers, decisions about delivery speed and price involve tradeoffs with each hoping to minimize the cost and maximize the purchase.
Our everyday economics includes developing nations, human capital, environment, behavioral economics, consumer spending, health care,incentives & sin taxes.
Our everyday economics includes human capital, incentives, behavioral economics, cost and benefit, exports, tradeoffs, inequality, risk,markets, and income.
If a performance metric is known, the people being evaluated have an incentive to shift their behavior so that their scores improve but not the job they do.
Whether looking at what fans spend and wager or the NCAA, the coaches, the teams, the media, and corporate promotions, March Madness is about big business.
Winter dibs is about whether you have temporary parking space property rights by shoveling your car out of the snow and if your self interest helps society.
Including congestion, wasted gas, time and emissions, cheap parking creates negative externalities that variable pricing of parking spaces can eliminate.
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.
