Oh, The Simpsons…so a couple of months ago I was approached with the idea of writing about the economics to be found in the Simpsons…I figured that this would be fruitful, since if the Harvard stereotypes regarding the writers are true, it stands to reason that a number of the writers have taken the class [...]
Entries Tagged as 'Behavioral Econ'
Homer Economicus?
March 9th, 2010 · 7 Comments
Behavioral Econ · Just For Fun
Tags: Behavioral Econ · Just For Fun
More On Why I Do What I Do, Extended Warranty Edition…
December 31st, 2009 · 7 Comments
Behavioral Econ · Buyer Beware · Markets
Try this quote on for size:
On our assumptions, the extended warranty is a product that simply should not exist. If Humans realized that they we paying twenty dollars for two dollars’ worth of insurance, they would not buy the insurance. But if they do not realize this, markets cannot and will not unravel [...]
Tags: Behavioral Econ · Buyer Beware · Markets
On The Economics Of Bling…
November 3rd, 2009 · 14 Comments
Behavioral Econ · Happiness · Markets
Consider the following choice:
Option 1: You make $75,000 per year, the people around you make $50,000 per year.
Option 2: You make $100,000 per year, the people around you make $125,000 per year.
Traditional economic models suggest that this choice is easy- clearly more money is always better, so Option 2 is obviously superior. [...]
Tags: Behavioral Econ · Happiness · Markets
People Are Funny (Funny Strange And Funny Haha), Halloween Edition…
October 31st, 2009 · 4 Comments
Behavioral Econ · Books · Decision Making
Happy Halloween everyone! I always procrastinate on putting a costume together unless I have a definite plan in mind (last year I was Sarah Palin, in case you were curious), so now it’s the big costume day and I’m still brainstorming. This is how the conversation has gone down on Facebook thus far:
Me: [...]
Tags: Behavioral Econ · Books · Decision Making
An Economist Goes To A Dive Bar, Keno Edition…
October 30th, 2009 · 7 Comments
Behavioral Econ · Books · Buyer Beware · Decision Making
It took almost a year of pestering, but I finally got my best friend to take me to the neighborhood bar in the town he grew up in. As any good dive bar should, it had a bunch of Keno screens, and I am not surprisingly intrigued by animated numbers, so he asked me [...]
Tags: Behavioral Econ · Books · Buyer Beware · Decision Making