Archivio per 7 giugno 2014

07
Giu
14

Holiday gift-giving isn’t just stressful. It’s also an economist’s nightmare.

See on Scoop.itBounded Rationality and Beyond

Some economists dislike Christmas. They allege that it “destroys value,” which is, in Econoland, the first and only sin. The economist Joel Waldfogel, author of Scroogenomics, goes so far as to contend that the winter holiday season is “an orgy of value destruction.”

Waldfogel’s main concern is that the value of gifts to their recipients is typically far lower than the money that was spent on them. He found that of the $65 billion spent on winter holiday gifts in 2009, about 20 percent was wasted, in the sense that the gifts were worth that much less to the recipient than they cost. And indeed, it is an inescapable fact of life that people who receive holiday gifts often don’t much like what they get. If you’ve ever been presented with a sweater that you would never wear in public or electronic equipment whose purpose escapes you, you will understand what Waldfogel is talking about.

In hard economic times, when both the government and ordinary people are trying desperately to save money, this is a sobering analysis. We don’t propose that Congress should try to solve the debt crisis by requiring people to give holiday season money to the Treasury Department rather than spending it on presents. But mis-giving does no good for anyone, and we have a few ideas about how to make it through the season a bit more easily.

See on newrepublic.com

Annunci
07
Giu
14

Holiday gift-giving isn’t just stressful. It’s also an economist’s nightmare.

See on Scoop.itBounded Rationality and Beyond

Some economists dislike Christmas. They allege that it “destroys value,” which is, in Econoland, the first and only sin. The economist Joel Waldfogel, author of Scroogenomics, goes so far as to contend that the winter holiday season is “an orgy of value destruction.”

Waldfogel’s main concern is that the value of gifts to their recipients is typically far lower than the money that was spent on them. He found that of the $65 billion spent on winter holiday gifts in 2009, about 20 percent was wasted, in the sense that the gifts were worth that much less to the recipient than they cost. And indeed, it is an inescapable fact of life that people who receive holiday gifts often don’t much like what they get. If you’ve ever been presented with a sweater that you would never wear in public or electronic equipment whose purpose escapes you, you will understand what Waldfogel is talking about.

In hard economic times, when both the government and ordinary people are trying desperately to save money, this is a sobering analysis. We don’t propose that Congress should try to solve the debt crisis by requiring people to give holiday season money to the Treasury Department rather than spending it on presents. But mis-giving does no good for anyone, and we have a few ideas about how to make it through the season a bit more easily.

See on www.newrepublic.com

07
Giu
14

Behavioural economics and public policy – FT.com

See on Scoop.itBounded Rationality and Beyond

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/2/9d7d31a4-aea8-11e3-aaa6-00144feab7de.html#ixzz33xH2272  The past decade has been a triumph for behavioural economics, the fashionable cross-breed of psychology and economics. First there was the award in 2002 of the Nobel Memorial Prize in economics to a psychologist, Daniel Kahneman – the man who did as much as anything to create the field of behavioural economics. Bestselling books were launched, most notably by Kahneman himself (Thinking, Fast and Slow, 2011) and by his friend Richard Thaler, co-author of Nudge (2008). Behavioural economics seems far sexier than the ordinary sort, too: when last year’s Nobel was shared three ways, it was the behavioural economist Robert Shiller who grabbed all the headlines.

Behavioural economics is one of the hottest ideas in public policy. The UK government’s Behavioural Insights Team (BIT) uses the discipline to craft better policies, and in February was part-privatised with a mission to advise governments around the world. The White House announced its own behavioural insights team last summer.

See on www.ft.com

07
Giu
14

Behavioural economics and public policy – FT.com

See on Scoop.itBounded Rationality and Beyond

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/2/9d7d31a4-aea8-11e3-aaa6-00144feab7de.html#ixzz33xH2272  The past decade has been a triumph for behavioural economics, the fashionable cross-breed of psychology and economics. First there was the award in 2002 of the Nobel Memorial Prize in economics to a psychologist, Daniel Kahneman – the man who did as much as anything to create the field of behavioural economics. Bestselling books were launched, most notably by Kahneman himself (Thinking, Fast and Slow, 2011) and by his friend Richard Thaler, co-author of Nudge (2008). Behavioural economics seems far sexier than the ordinary sort, too: when last year’s Nobel was shared three ways, it was the behavioural economist Robert Shiller who grabbed all the headlines.

Behavioural economics is one of the hottest ideas in public policy. The UK government’s Behavioural Insights Team (BIT) uses the discipline to craft better policies, and in February was part-privatised with a mission to advise governments around the world. The White House announced its own behavioural insights team last summer.

See on ft.com

07
Giu
14

Cheaters on Wall Street: What Drives Bad Behavior?: Video

See on Scoop.itBounded Rationality and Beyond

Greenwich Associates Principal Kevin McPartland and Duke University Behavioral Economist Dan Ariely discuss cheating and what it takes to have an edge on Wall Street. They speak on Bloomberg Television’s “Market Makers.Dan Ariely makes some great points in this video about the effect of the culture of an institution (in this case Wall Street or the Financial Sector) can affect an individual’s sense of right and wrong (or more succinctly, what behavior is acceptable under certain conditions). He also provides some great food for thought on how individuals who are lobbied by various interest groups do not recognize the subtle ways in which they are influenced into accepting or supporting a lobbyist’s viewpoint (or policy position). ” (Source: Bloomberg)

See on bloomberg.com

07
Giu
14

Cheaters on Wall Street: What Drives Bad Behavior?: Video

See on Scoop.itBounded Rationality and Beyond

Greenwich Associates Principal Kevin McPartland and Duke University Behavioral Economist Dan Ariely discuss cheating and what it takes to have an edge on Wall Street. They speak on Bloomberg Television’s “Market Makers.Dan Ariely makes some great points in this video about the effect of the culture of an institution (in this case Wall Street or the Financial Sector) can affect an individual’s sense of right and wrong (or more succinctly, what behavior is acceptable under certain conditions). He also provides some great food for thought on how individuals who are lobbied by various interest groups do not recognize the subtle ways in which they are influenced into accepting or supporting a lobbyist’s viewpoint (or policy position). ” (Source: Bloomberg)

See on www.bloomberg.com




Time is real? I think not

giugno: 2014
L M M G V S D
« Mag   Lug »
 1
2345678
9101112131415
16171819202122
23242526272829
30  

Commenti recenti

Lorenzo Bosio su Un testo che trascende le sue…

Inserisci il tuo indirizzo e-mail per iscriverti a questo blog e ricevere notifiche di nuovi messaggi per e-mail.

Segui assieme ad altri 1.159 follower

Latest Tweets

Annunci

%d blogger hanno fatto clic su Mi Piace per questo: