Remember how often you have done something that felt like going against yourself. Visualize a situation where you have been taken hostage by emotions, led by a blind force that drove your mind through future regrets -it could be a life-changing decision or a daily choice. It has happened to everyone to feel like they […]
If the history of economic thought is a succession of new mainstreams, the current predominant school of thought is undoubtedly Behavioral Economics. Models introducing cognitive limitations of agents are now increasingly spreading and, even in those economic domains where there is more reluctance towards this approach, behavioral considerations are still part of the debate. If the […]
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 […]
One of the most pivotal changes that unfolded during the past three decades was the reach of markets and market values into spheres of life traditionally held sway over by nonmarket norms. Healthcare, education, public safety, and environmental protection are some examples of the sectors where the use of market logic was for the most […]
Empathy is the ability to understand someone else’s feelings and view a situation from their standpoint. Types of empathy include cognitive empathy, emotional or affective empathy, and compassionate empathy. The first relates to understanding how a person feels and why they feel this way. The second refers to the ability to feel someone else’s emotions. […]
The world “cult” comes from the Latin “cultus”, meaning “to till or cultivate”. In antiquity it was used to describe the sacrifices, offerings, and monuments built to cultivate favor with the gods, whereas in time, it came to mean any unorthodox religion. It is a known fact how dangerous a cult could be: they may […]
Think back to any movie you’ve seen involving a disaster, whether it was a tsunami or a plane crash. More than likely, the footage of the actual disaster was accompanied by hordes of people screaming and running for their lives. As with many Hollywood depictions of various events, however, the reality of things is quite […]
For more than three decades now, “microloans” have been all the rage in international development. The idea is simple: by giving a small loan to someone living in a poor country, you could help them expand a small business, which would lift their family out of poverty. When they pay back the loan, the money […]
In the classic economic model, the measure of utility is presumed to be the key to understanding agent’s decision-making. However, most factors concerning the study of utility are assumed to be exogenous. The emergence of the field of behavioural economics has sought to challenge that by drawing insights on the endogenous factors that affect that […]
By Francesco Amighetti and Beatrice Del Frate June has come and, for the majority of college and university students, this means free time that can be spent with families and friends, while being on holidays without studying. Nevertheless, some of them who failed or postponed exams may be worried about their upcoming outcomes, while others […]
B.BIAS 