Category Archives: Behavioural economics

Puzzling preferences

(featured image credit: A.H.M CC BY) Are our preferences fixed, or can we change them at will? Would you prefer a holiday for the advertised price, or the very same one for 25% less? Would you prefer spending half an … Continue reading

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Facts don’t matter

(credit: Amusing Planet) …what matters is how much you care about them. It has not been a good month for statues. True, statues have been torn down before: you may remember the images of the Iraqi ruler Saddam Hussein’s statue … Continue reading

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An accidental behavioural economist in lockdown – Part II: Mental Economics

(featured image credit: Catherine Thackstone/Flickr CC BY) A surprisingly large part of our economic activity takes place between our ears Undistracted by the triggers and prompts of intriguing human behaviour that a break in south-west England has provided in past years … Continue reading

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An accidental behavioural economist in lockdown – Part I: Flipping wisdom

(featured image credit: Karel Julien Cole/Flickr CC BY) Economics everywhere, and not an economist in sight There is something about milestones. I was reminded of this fact by a post last weekend on Martin Carty’s blog. The milestone of its … Continue reading

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Economics for other people

(credit: Lenny DiFranza CC BY/Flickr) Two core economics concepts are crucial to our decisions, and even more so if they affect others than just ourselves Late last Sunday, May 31st, my wife’s friend Linda got a surprise from the UK … Continue reading

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The consequences of loyalty

When rules and consequences clash, we had better weigh up carefully what matters most When a pandemic is wreaking havoc, and many hundreds of people are killed by a virus every day, it is important that the population as a … Continue reading

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Is that a lot, or is that a little?

(credit: duncan c/Flickr CC BY) The answer to the question is often far from clear-cut, and we may be easily misled – by others and by ourselves Imagine you have ended up in a foreign country that you have never … Continue reading

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Prices without markets

(featured image credit: Corinne Brown/Flickr CC BY) Do prices reflect value – and if they don’t, should they? Cynics, Oscar Wilde said, know the price of everything, and the value of nothing. That’s as may be, but do you know … Continue reading

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Similar, but very different

(credit: 272447 /Pixabay) We sometimes treat similar risks very differently, and that affects how we make decisions Fear of flying is not likely to be something bothering many people any time soon. The latest IATA figures show that, after a … Continue reading

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What (we think) others think about us

(featured image credit: Nathan Rupert CC BY) Our concern about the way we believe others see us is not necessarily all that helpful “Does my bum look big in this?” Lovers of British comedy may recall this catchphrase from The … Continue reading

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