The Impossible Job of Finding a Job Behavioral Economics The most challenging part of college had nothing to do with actually being in college. Instead, it was finding a way to use the value gained after spending tens of thousands of dollars. That is finding a job. It is a seemingly increasingly popular roadblock that […]
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Significance Bias Behavioral Economics Have you ever noticed that your phone rings every time you’re in the shower? You end up missing the call and say something along the lines of “why does this always happen?!” Phone Rings in the Shower But how often does that actually happen? Actually not very often, but we perceive
What You Call Yourself and What Others See You As Behavioral Economics As a recent college graduate, I struggle to grasp that I am technically an economist. Nothing really has changed from the month before graduation to the month after. Except now that I have a piece of paper claiming I have a degree in
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What is the True Cost of Incentives? Behavioral Economics | Public Choice Economics is based entirely on incentives. They drive all actions and motivation. There are two types of incentives, Positive and Negative. Each comes with its own cost. Positive Incentives Positive incentives are structures that are set up to encourage beneficial activities and behaviors.
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What’s up with the EPA’s Poor Agenda? Public Choice | Behavioral Economics The Ruling West Virginia won a battle against the Environmental Protection Agency (EPA), over the EPA’s ability to regulate carbon emissions. The 6-3 supreme court decision on West Virginia v. EPA ruled that the agency overstepped its authority with rules to cut powerplants’
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People are not Inherently Altruistic Behavioral Economics | Game Theory Apathy or Altruism There is a long-standing debate in behavioral economics that revolves around whether people are inherently apathetic or altruistic. When labeling a group of people it is important to clarify what is that you are labeling them as. Although these two are not
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All Good Things Take Time Public Choice | Behavioral Economics | Game Theory Do it Yourself There is an old saying “if you want something done right, do it yourself”. I believe this statement holds true. Doing something yourself is the one sure way you know it has been done correctly. Similarly, the only sure
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Make your Own Luck Behavioral Economics | Game Theory Outliers In the book Outliers by Malcolm Gladwell, luck is a major theme. He explains how successful people obtain their success through hard work and dedication but wouldn’t be where they are without a bit of luck. That some people are just brought up at the
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The Big Healthcare Staff Shortage Public Choice | Behavioral Economics Since the pandemic healthcare workers have been reported to be overworked, and have symptoms of exhaustion, depression, and sleep disorders. This can be attributed to the shortage of healthcare workers, which started before the pandemic. According to providertech since February of 2020 Healthcare employment is
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How to make Mundane Tasks Enjoyable Behavioral Economics Everyone has parts, or all, of their job that they hate. It’s either boring, repetitive, mundane, or all three. There is a solution to this very common problem. Treat work like a game. It’s stupid but effective. Everyone enjoys playing games, so by treating work like a
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