Tag: #behaviouraleconomics
“Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism” (2009) is a book written by George A. Akerlof, 2001 Economics Nobel Prize winner, and Robert J. Shiller, Economics professor at Yale. In the book, the authors examine the role of emotions and human psychology in shaping economic decisions and […]
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 […]
Categories
Why do people procrastinate?
Etymologically, “procrastination” is derived from the Latin verb procrastinare — to put off until tomorrow. But it is more than just voluntarily delaying. Procrastination also comes from the ancient Greek word akrasia, which means doing something against our better judgment. To understand what causes procrastination (outside of conditions such as attention-deficit/hyperactivity disorder, where executive functioning […]
An overconsumption of meat and increasing pressure on land and water resources is making it challenging to feed a population that is growing at a faster pace than the food supply chain. The over-exploitation of agricultural resources and the natural ecosystem is contributing to severe issues such as global warming, food insecurity and mineral depletion. […]
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, […]
Categories
Mirror, Mirror on the Wall
What’s the story you tell yourself when you put on your #OOTD? The earliest records of human history show us homo sapiens fashionably adorned in some accessories or stylised clothing made from the materials around us. This is an anthropological phenomenon that spans cultures around the world. The relationship that we have with clothing has […]
Categories
Big Data for nudging
Nudging is the careful construction of decision-making environments aimed at helping decision makers making wiser choices, possibly at their advantage. The first applications of nudges regarded mainly public policies and programs aimed at a general public, with no particular distinctions between potential users. Tax compliance, energy saving and even increasing men’s aim in public toilets […]
Are you feeling like you are stuck on a treadmill, while your peers are nearing the finish line on a marathon? Are your grades spiralling down alongside your motivation and self-esteem? Does it feel like the only thing getting bigger is the pile of assignments due? Do not panic! You might be a victim of […]
Life is made of decisions: whether about your career path, health insurance, marriage, the next brand of toothpaste you want to try or whatever else, you simply cannot avoid them. What professors Richard H. Thaler and Cass R. Sunstein address in Nudge is the possibility of improving people’s choices by acting on the design of the question. It is just as […]
B.BIAS 