Pricing, The Secret
Posted on19 Sep 2013
Tagsrestaurant, violins, lobster, supply and demand, Drazen Prelec, George Loewenstein, values, Tom Sawyer fence painting, The New Yorker, The Economist, taste, subjective, rationale, price, neoclassical economics, James Surowiecki, Influence, food, economics, Dan Ariely, anchoring
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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
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
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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, behavioral economics, money, neoclassical economics, objectivity, personal, religion, The Economist, Poland, faith-based economy, United States
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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
Tagseconomic bubbles, Why Newton Was Wrong, The Economist, power behind beliefs, Paul Marsh, neoclassical economics, momentum effect, Mike Staunton, London Business School, investing, fundamental analysis, financial markets, EMH, Elroy Dimson, efficient market hypothesis, beliefs, behvioral economics
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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
