Behavioral Economics

Houses aren't selling, and behavioral economists say sellers are to blame. But a psychological pricing trick can help sellers get more and better offers. Read More

Altruistic behavior is one of the great unsolved problems of social science research. What I find particularly fascinating is the huge effect that very subtle cues can exhibit on people's giving behavior...or not so subtle cues, like when you're made to feel that God might be watching you... Read More

I've been reading a lot of John Kenneth Galbraith recently. Galbraith, the economist and Kennedy confidante, died a few years ago at a ripe age, soon thereafter followed by his right-wing opponent and friend William Buckley. It seems to me that in the age of the talking heads, we have no one even approaching the stature of Galbraith or Buckley, on either left or right. Read More

One of the recurring themes of this blog has been the basic human tendency to overlook the external forces that shape our lives. We prefer to think of the social universe as a predictable and orderly place. It's a reassuring notion in a world that otherwise can seem disconcertingly random. And it's also why we're so down on luck–why we don't cotton too well to the suggestion that chance dictates important outcomes in life. Read More

In many professions, doing some work for free is part of the deal. A professor recently told me that academics often say they get paid to teach, while research--mostly unpaid--is for fun. "We're in it for the fame," the professor joked. Read More

I came here to exercise but it's definitely not working. The gym's owner keeps coming over to talk to me about God. He's born again. He asked me what I'm listening to and like a fool I told him it's a book about Darwin.

"Let me ask you this," he say. "If we came from monkeys, why are there still monkeys?" Read More

Just about everyone has a complicated relationship with money. Studies show that money is the no. 1 reason for divorce Read More

In the early 1970s I was a young teenager who was completely caught up in the Zeitgeist. I admired the long-haired rebels and radicals who were engaged in protesting the establishment and developing the counter-culture. I didn’t really know what any of that meant, but to me it was all about empowering youth and declaring our independence from the adults. My parents in particular. Read More

From "invitation only" high-fashion web sites to the 99 Cents Only Store, prices ending in 9 have a strange attraction for value-conscious shoppers. A new study suggests that the poetry of prices can be as important as the math. Read More