//
archives

Economics

This tag is associated with 4 posts

Four Steps to Keeping Your New Year’s Resolutions

From: “ HOW TO KEEP YOUR RESOLUTIONS  By KATHERINE L. MILKMAN and KEVIN G. VOLPP, January 3, 2014, NY Times     1. Make a concrete plan. When you do so, you both embed your intentions firmly in memory (which reduces forgetting) and make it harder to postpone good behavior, since doing so requires breaking an explicit commitment to … Continue reading

The three (four?) forms of Innovation – Clayton Christensen

By Clayton S. Christensen “A Capitalists Dilemma” New York Times, Sunday Nov 4th, 2012 According to Professor Christensen, there are three forms of innovation: Empowering Innovations – That transform complex, costly products only available to a few to simpler, cheaper products available to many. (And that use capital to expand capacity and finance receivables and inventory.) … Continue reading

Seven Behavioral Heuristics That Cause Us To Make Irrational Decisions

Priming – a reminder of a feature tees up behaviors reminiscent of that feature (asking students to read words that vaguely have to do with age causes them to walk slower) Anchoring – behaviors cluster around a comparison to supposed “norms” (showing $149, $30 and $10 bottles of wine cause people to buy $30 bottle … Continue reading

Is Google (Facebook;Twitter) the World’s Best Economist?

I have been wondering for a while why Economists haven’t made better use of Google keyword search analytics as an economic tool after hearing how Google can predict flu outbreaks with surprising accuracy: http://blogs.wsj.com/health/2010/05/17/google-flu-trends-good-at-suggesting-not-pinpointing-flu-cases/ While Google flu trends is a coarse indicator, I wondered if other Google search terms could be more accurate short-term predictors … Continue reading