Posts Tagged ‘wages and salaries’

  • Because of framing we perceive the same facts differently.

    How “Less Might Be More” at the World Cup

    Jun 15, 14 • 317 Views • Behavioral Economics, Businesses, Labor, Lifestyle, Sports, Thinking EconomicallyNo Comments

    In a study of the Barcelona Olympics, researchers concluded that winners of the bronze medal tended to be happier than the athletes who got the silver. Please look at the expressions (below) of the Olympic medal winners for the 200-meter individual medley

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    Looking at Labor

    Sep 5, 11 • 202 Views • Behavioral Economics, Businesses, Economic Debates, Government, Households, Labor, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    What if a physical trait meant you will earn $230,000 less during a lifetime?   According to one study, a person who was in the bottom one-seventh for looks earned 10% to 15% less than people who were in the top one-third. In a NY Times column, a

  • Adam Smith and a Physician’s Pay

    Jan 6, 10 • 209 Views • Thinking EconomicallyNo Comments

    Pondering healthcare reform again, I came across this comment from Adam Smith, 1776, WEALTH OF NATIONS: 22 We trust our health to the physician: our fortune and sometimes our life and reputation to the lawyer and attorney. Such confidence could not safely be