Pricing, The Secret
Posted on19 Sep 2013
Tagsneoclassical economics, Drazen Prelec, George Loewenstein, values, Tom Sawyer fence painting, The New Yorker, The Economist, taste, subjective, restaurant, rationale, price, supply and demand, James Surowiecki, Influence, food, economics, Dan Ariely, anchoring, violins, lobster
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
TagsGoogle, free will, education, decisions, computers, business, behavioral economics, advertising, logic, The Economist, personality as software analogy, seed planting analogy, Barack Obama, Eric Schmidt, Joshua Green, Bloomberg Businessweek, Twitter, relationships, rational actor theory, politics, Personality, neoclassical economics, merchandising, marketing
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
TagsAmerican, behavioral economics, money, neoclassical economics, objectivity, personal, religion, The Economist, Poland, faith-based economy, United States
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
Tagsbehvioral economics, beliefs, economic bubbles, efficient market hypothesis, Elroy Dimson, EMH, financial markets, fundamental analysis, investing, London Business School, Mike Staunton, momentum effect, neoclassical economics, Paul Marsh, power behind beliefs, The Economist, Why Newton Was Wrong
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