Pricing, The Secret
Posted on19 Sep 2013
Tagsfood, economics, Dan Ariely, anchoring, Influence, Tom Sawyer fence painting, violins, lobster, supply and demand, Drazen Prelec, George Loewenstein, values, The New Yorker, The Economist, taste, subjective, restaurant, rationale, price, neoclassical economics, James Surowiecki
Comments2
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
TagsThe Economist, Google, logic, marketing, merchandising, neoclassical economics, Personality, politics, rational actor theory, relationships, free will, Twitter, Bloomberg Businessweek, Joshua Green, Eric Schmidt, Barack Obama, seed planting analogy, personality as software analogy, advertising, behavioral economics, business, computers, decisions, education
Comments0
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
Tagsreligion, personal, objectivity, neoclassical economics, money, behavioral economics, American, The Economist, United States, faith-based economy, Poland
Comments0
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
TagsPaul Marsh, power behind beliefs, The Economist, Why Newton Was Wrong, neoclassical economics, behvioral economics, beliefs, economic bubbles, efficient market hypothesis, Elroy Dimson, EMH, financial markets, fundamental analysis, investing, London Business School, Mike Staunton, momentum effect
Comments0
Emotions drive human decision-making, a key assumption behind the effectiveness of intuitive approaches. However, mainstream economic theory – as represented by neoclassical... Read More
