Back to some behavioral economics. Thaler cites three stylized facts about horsetrack betting, they are as follows: 1. Most betters bring an amount of money
Category: Behavioral Economics
Mental accounting – 3 main components to the theory
In mental accounting there are three main components to this theory. The three of them are as follows and may affect the individuals preferences as
Hyperbolic Discounting Explained
Hyperbolic discounting refers to the preference people have to accept smaller payoffs sooner rather than larger payoffs in the future. This means that in terms
A Game theory question
is anyone up on game theory here? i was talking to a computer programmer the other day about game theory and he mentioned that someone
Maximizing Your Gift Giving Returns
Deadweight Loss of Gift Giving> Came across an interesting article that discusses Christmas gift giving from the perspective of economists. Why bother giving a $100