I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

There is an old joke in economics about two economists walking together down the sidewalk. One of them stops the other and says, “Look! There’s a $100 bill lying there on the ground!” As he stoops to ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from realising ...

When Rep. Alexandria Ocasio-Cortez rolled out her "Green New Deal," calling for clean energy, universal health care and guaranteed jobs, one of the first questions she got was: How do you plan to pay ...

Two professors and economists—Oliver Hart and Bengt Holmström—received the Nobel Prize in Economic Sciences Monday for their insights into modern contract theory, specifically how businesses and ...

In 2006, economists at the Federal Reserve Bank of New York started to worry about the overheating US housing market. Concerned that the bubble might burst, they used their best model to predict what ...

Eric's career includes extensive work in both public and corporate accounting with responsibilities such as preparing and reviewing federal, state, and local tax filings; supporting multinational ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

THIS book is based on the theory that the economic man attempts to maximize his share of the world's goods and services in the same way that a participant in a game involving many players attempts to ...