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Entries Tagged as 'Behavioral Econ'

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New Books, Behavioral Econ, And A Reality Show Pitch…

June 2nd, 2015 · 9 Comments
Behavioral Econ

Summary in Brief: Richard Thaler has a new book: John Cochrane has his Chicago-school panties all in a twist: Most of the Wall Street Journal review passes along Thaler’s of complaining about how people resisted his early ideas. Really, now, complaining about being ignored and mistreated is a bit unseemly for a Distinguished Service professor [...]

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Tags: Behavioral Econ

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The Economics Of Life, Dollar Auction Edition…

December 29th, 2014 · 1 Comment
Behavioral Econ · Just For Fun

Remind me to remind Zach that the dollar auction is supposed to be a lesson in

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Tags: Behavioral Econ · Just For Fun

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My Favorite Coase Theorem Illustration Is Taking Over The World…

August 29th, 2014 · 61 Comments
Behavioral Econ · Econ 101

The fall academic semester is quickly approaching, so it’s a good time to remind readers that one of the goals of this site is to give economics instructors interesting examples and discussion topics for their classes. Those of you teaching Principles of Economics this term (as well as those of you teaching Environmental Economics and [...]

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Tags: Behavioral Econ · Econ 101

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When Transaction Utility Goes Awry, Starbucks Edition…

May 29th, 2014 · 5 Comments
Behavioral Econ · Buyer Beware

Traditional economic models assume that the utility, or happiness, one gets from consuming an item depends only on how fundamentally useful the item is to the consumer. Under this model, an item’s utility must be independent from the price that the consumer paid for the item, since it’s hard to envision a scenario where the [...]

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This Year’s Economist Valentinegram…

February 14th, 2014 · 5 Comments
Behavioral Econ

Via a Twitter friend: It’s funny because it’s true, and I’ve been trying to explain this to people for years. (In related news, economists don’t have a reputation for being particularly romantic.) In case you’re not familiar, sunk costs are costs that you’ve already paid and can’t recover- i.e. you can’t get your money back. [...]

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Tags: Behavioral Econ

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An Economist On Christmas…

December 25th, 2013 · 2 Comments
Behavioral Econ · Just For Fun

First off, happy holidays!

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Tags: Behavioral Econ · Just For Fun