Imagine you are a leader of the group, a CEO of a well-known firm. Your job is to guide people to achieve something together. As a businessman first thing that pops into your head, in order to make people work harder, is the simplest way: I should pay them more. If I want a group […]
A famous Norwegian proverb says: “Tomorrow I shall begin a better life. I think . . .” Probably everyone can somehow relate to this proverb – some of us want to quit smoking but fail, some of us want to exercise more but fail, some of us want to read more but fail. There are so many ways of how […]
It is always in the middle of exam session that you remember how tiring and boring studying can be. It is even more unnerving when, after studying day and night for weeks you do not get the results you hoped for. How did it happen, you might ask yourself, after all the work I have put into […]
The job recruitment process is a game. Precisely, a signaling game with asymmetric information. Hoping for a perfect match, both the job seekers and the companies looking for new talent signal their attractiveness to each other. Neglecting the in between the lines signals that are conveyed in job advertisements can deter top candidates from applying and reduce the diversity of the company’s biggest asset – […]
Have you ever found yourself scrolling through Instagram, watching stories: happy people, fancy dresses, delicious food, a cozy restaurant, mountains in the background, holding a glass of champagne? In the meantime, you are covered in blankets, watching Netflix, with a pack of cookies on your nightstand. You feel miserable: you’re sitting there doing nothing while […]
The variety of posts of this blog is the proof that the potential applications of Behavioural Economics are plenty. The present article reviews a paper in which the author, Pickett (2018), illustrates some examples of its use for crime deterrence. The decision of committing a crime has been analysed in economic terms with a simple model where potential offenders evaluate the […]
Feminism is a set of social movements that aim to define and establish the political, economic, personal, and social equality of all genders. We live in a world where being female or being male can lead you to have a completely different life, because of different resources available and power relationships. Even if it is […]
You know that feeling when your dishwasher breaks but you chose to not pay 50 euros more for a 5 year guarantee because you did not expect it would break in the first place? Not the best I will admit, but the protagonist of this story is not the dishwasher nor how stingy we are, […]
Prospect Theory highlights the fundamental role of the Endowment Effect in trading goods: the value people give to certain goods is highly influenced by their initial endowment (reference point).
Games are for kids! …. Are they? Games are often undervalued: seen as childish, a waste of time, a way to run away from responsibilities, sometimes. But what if I told you games are powerful tools to improve motivation, learning, engagement, financial choices and even one’s own health? Let me introduce you to gamification, the application of gaming elements, designs and principles in non-game contexts. The applications […]
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