Imagine you are standing in line at a cinema to buy popcorn. As you get to the front of the stand you see that there are three size options: small, medium, and large. You are not too hungry, so you’re thinking of buying the small one. The small costs € 4, the medium € 6.50 […]
In the realm of economic theories, where choices appear as outcomes of stable preferences, Cognitive Economics introduces a novel perspective. This field, blending insights from economics, neuroscience, and cognitive psychology, seeks to unravel the mysteries of human decision-making, challenging conventional wisdom. Classical Economics assumes that choices derive from stable preferences, whereas Behavioral Economics ventures into […]
The stories of corruption within democracies have millennia-old origins; just think of the Verrines or the trial against Catiline, cases that changed the sensibilities of the time regarding the morality underlying politics. The gradual expansion of suffrage, up to its universality, are recent and significant steps that have changed the needs of democratic countries. A […]
Over centuries, countries have adopted different strategies in terms of diplomacy. From the United States’ “hard boots” approach to soft diplomacy – nations have learned how to adapt in order to foster positive relationships and enhance their image on the global stage. Over the course of the past years, strategies have evolved to incorporate behavioral […]
The expression “seasonal shopping events” or “SSEs” refers to specialized events, often related to national or religious holidays, in which retailers create shopping opportunities, by offering discounts and promotions, to attract consumers and maximize sales volume. The end of November brings two of the most relevant SSEs, Black Friday and Cyber Monday. Historically, Black Friday […]
“Last Friday of November.” The term “Black Friday” dates back to the 1960s, symbolising the point in which retailers transition from being ‘in the red’ to ‘in the black’, in other words, begin to make a profit. It has since then been used to talk about the informal start of the Christmas shopping season that […]
Sports, beyond their entertainment value, are able to give a unique insight into economics. While the traditional way to combine those two elements is to look at the economics of sport, in this article we will actually focus on the economics in sports, a field that uses athletic competitions as a lens to unravel human […]
“The Winner Effect: The Neuroscience of Success and Failure” by Ian H. Robertson is a fascinating book that explores how winning affects our behaviour, pushing us to achieve success. In the book, Robertson often mentions his research and other studies to explain how success and failure can alter our brain chemistry, making us more confident […]
Supermarkets are, in a sense, large containers of an endless multitude of different types of goods. Among expensive caviar, bubbly champagne, and sugary popsicles, supermarkets hold the much more precious “essential goods”. For this very reason, supermarkets are one step ahead of any other shop: EVERYONE actually NEEDS to go there. Grocery stores have it […]
“What do you want to be when you grow up?” We have heard hundreds of variations of this question not only as a child or a teenager but most probably also as a young adult. We all go through very different thought processes, but there is one common experience: Our career choices are shaped by […]
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