Monthly Archives: September 2016

(Weak) point of law

Posted on September 26, 2016 by koenfucius

Calls for new or stricter legislation are often based on a misunderstanding of how people’s behaviour is really influenced One of the interesting side effects of being a citizen of one country and living in another one is that it … Continue reading →

Posted in Behavioural economics, Law | Tagged , | Leave a comment

The (high) price is right

Posted on September 15, 2016 by koenfucius

Why it sometimes makes sense to pay more for a smaller sandwich  Would you pay more for two apples than for three? Not very likely. Doing so would go against some pretty deep-rooted assumptions. When we’re buying something, we are … Continue reading →

Posted in Behavioural economics, Cognitive biases and fallacies, Economics, Emotions | Leave a comment

Do we really respond to incentives?

Posted on September 12, 2016 by koenfucius

Incentives are often the first port of call to influence people’s behaviour. How justified are we in relying on these instruments? In The Armchair Economist, Steven Landsburg writes, Most of economics can be summarized in four words: “People respond to … Continue reading →

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The trouble with referendums

Posted on September 5, 2016 by koenfucius

How a democratic process can lead to consequences of a questionable democratic character People are a motley crew, really. Every one of us has their own set of preferences. Thankfully the free market makes sure that someone offers exactly what … Continue reading →

Posted in Economics, politics | Tagged , , | 4 Comments

Beachonomics

Posted on September 5, 2016 by koenfucius

An accidental behavioural economist takes a walk along the beach With the summer holidays now firmly behind us, I found myself musing about how much the seaside can tell us about economics. A couple of weeks ago we were spending … Continue reading →

Posted in Behavioural economics, Economics | Tagged , , | 1 Comment