Pricing, The Secret
Posted on19 Sep 2013
Tagsanchoring, Dan Ariely, economics, food, Influence, James Surowiecki, neoclassical economics, price, rationale, restaurant, subjective, taste, The Economist, The New Yorker, Tom Sawyer fence painting, values, George Loewenstein, Drazen Prelec, supply and demand, lobster, violins
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The secret to pricing is its arbitrariness, subjectivity. What disrupts this is anchoring, a preconceived benchmark of what should be the price.... Read More
Personalities Lurk Behind Twitter Streams
Posted on25 Jul 2013
Tagsadvertising, behavioral economics, business, computers, decisions, education, free will, Google, logic, marketing, merchandising, neoclassical economics, Personality, politics, rational actor theory, relationships, The Economist, Twitter, Bloomberg Businessweek, Joshua Green, Eric Schmidt, Barack Obama, seed planting analogy, personality as software analogy
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Increasingly, we are seeing the connection between all that we do and our personalities. Why is this “groundbreaking?” For centuries now, we’ve... Read More
America’s Faith-based Economy
Posted on22 Apr 2013
TagsAmerican, United States, faith-based economy, Poland, The Economist, religion, personal, objectivity, neoclassical economics, money, behavioral economics
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When I read articles like “Toss a Coin” (The Economist, January 12, 2013 edition), I’m reminded that our economy relies on faith.... Read More
Efficient Markets are Mirages
Posted on31 Jan 2011
Tagsneoclassical economics, Paul Marsh, power behind beliefs, The Economist, Why Newton Was Wrong, momentum effect, behvioral economics, beliefs, economic bubbles, efficient market hypothesis, Elroy Dimson, EMH, financial markets, fundamental analysis, investing, London Business School, Mike Staunton
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Emotions drive human decision-making, a key assumption behind the effectiveness of intuitive approaches. However, mainstream economic theory – as represented by neoclassical... Read More
