Gambling is a feature of capitalism—not a bug In a modern capitalist economy, almost everything is for sale, including risks. Markets can transfer known risks to people or institutions who can handle the risk more effectively. The cost of rebuilding … Continue reading Why people trade risk
Don’t Tell Your Friends They’re Lucky Cornell professor of economics Robert Frank says he’s alive today because of “pure dumb luck.” In 2007, he collapsed on a tennis court, struck down by what was later diagnosed as a case of … Continue reading Are you lucky?
Inside Psychology’s ‘Methodological Terrorism’ Debate It isn’t every day that an academic researcher publicly compares some of her colleagues to terrorists, so it’s probably no surprise that what happened last month sparked a heated debate. That’s when a draft version … Continue reading Is methodological terrorism out there?
What Happens When There Are Limits on Bankers’ Bonuses? Do bankers make too much? That question has been widely discussed ever since the 2008 financial crash, which many experts blamed (in part) on a system of compensation that excessively rewarded … Continue reading Do bankers take crazy risks?
Misbehaving: the making of behavioural economics – Richard Thaler LSE Lecture Richard Thaler, described by The Spectator as ‘the godfather of behavioural economics’, will be in conversation with LSE Director Craig Calhoun about his book Misbehaving: the making of behavioural … Continue reading The godfather of behavioural economics
The things we do: Can computer games contribute to HIV prevention? Preventing and controlling HIV is essential to ensuring that everyone can lead healthy, productive lives. It is essential to address this disease if everyone is to share in global … Continue reading The HIV risk computer game
Values and vaccines Stop me if you’ve heard this one before. On 19 December 1984, The New York Times ran a story about parents who feared the risks of routine vaccinations. The parent quoted in the article was a lawyer … Continue reading Is to reject vaccination rational?