Category Archives: Emotions

The immaterial economy

(featured image credit: torstensimon) The peculiarly human nature of economics On Wednesday 10 January Philip Hammond, the UK’s chancellor of the exchequer, and his cabinet colleague David Davis, the secretary for Exiting the EU, flew to Germany. The aim of their … Continue reading

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The intriguing psychology of gift economics

(featured image credit: stux/geralt/artsybee) What does viewing the giving of gifts as economic transactions reveal about what we really value? It’s two days before Christmas. You’re frantically looking for a gift for the one person you completely forgot. What is … Continue reading

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The compartments of your (financial) mind

(credit: Like_the_Grand_Canyon) We are all mental accountants, for better and for worse   You probably have them too in your purse or your wallet: a stack of store loyalty cards. Every time you pass a till, you habitually hand over … Continue reading

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Is it our business?

(Image credit: stevepb) Sometimes characteristics of products or services, or of those who sell them, immaterial as they are, can greatly influence our willingness to pay. Should they be any of our business? 500 years ago, on 31 October 1517, Martin … Continue reading

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Comparing minds

(featured image: qimono) A relativity principle possibly even more fundamental than Albert Einstein’s A little while ago I sat working with the radio tuned to a show in which the hostess quizzes a celebrity for a couple of hours on … Continue reading

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A token of appreciation

(featured image credit: Crishna Simmons) About the remarkably behavioural approach supermarkets have taken to buff up their image and engage their customers in the process Companies are learning that being seen to ‘do the right thing’ is good for their brand … Continue reading

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Pricing under pressure

(featured image credit: Alex W) Should morality, rather than the market, dictate the right price of goods and services in emergency situations? In his book Misbehaving, behavioural economist Richard Thaler relates an interesting experiment he conducted with Daniel Kahneman and Jack … Continue reading

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