An Economist Goes Christmas Shopping “The Deadweight Loss of Christmas” is the sort of academic paper that makes ordinary people think economists are kind of crazy. “I find that holiday gift giving destroys between one-third and one-tenth of the value … Continue reading Did you buy presents?
This is the mistake you’re most likely to make during market volatility When you hear the market has suffered a big drop, your first instinct is probably to check your investment account balances. But that is actually the opposite of … Continue reading Interpreting trends
The $2 Million Urinal: Why Hard Work Doesn’t Cut It In 1917, Marcel Duchamp walked into a plumbing supply store in New York City and selected what’s known as a Bedfordshire-style urinal from the array of bathroom fixtures on offer. … Continue reading How to explain success
Using Experiments to Launch New Products More than ever before, managers are using large-scale randomized controlled trials (i.e., experiments) to guide decisions. This has led to impressive gains for organizations ranging from Amazon to the UK government. We are excited … Continue reading Testing Express Pool service
What can economics teach us about moral ecology? In exploring the various connections between morality, theology, and economics, we routinely long for philosophers and theologians who understand economics, just as we crave economists who understand the bigger picture of self-interest … Continue reading The language of morality
How Often Do Freelancers Get Paid Late? It Depends If You’re a Woman or Man It seems obvious that you should get paid for the work you do. Unfortunately that’s not always the case for freelancers. In addition to irregular … Continue reading Who you are matters
If you aim for average you’ll serve no one well In the late 1940s the US Air Force faced a problem: a worrying number of planes were crashing. The situation deteriorated until, in February 1950, 17 planes plummeted to the … Continue reading Beware averages