Duke "Office Hours" webcast
Check out my recent webcast interview with Duke University “Office Hours”:
Check out my recent webcast interview with Duke University “Office Hours”:
Dick Thaler, an economist who helped create the field of behavioral economics, came up with a wonderful idea a long time ago to promote retirement savings, a plan he calls Save More Tomorrow. Among the many clever aspects of his plan is the idea of automatic escalation of people’s retirement contributions. Think of the idea…
When Dr. Jeffrey Rice needed to schedule outpatient foot surgery for his son three years ago, he called the recommended facility to find out what it would cost. The estimate was so high — $15,000 to $25,000 — that Rice asked the surgeon for a second option. The cost for the same one-hour procedure at…
A jab to the right, then Carmelo steps back behind the three-point line and launches a shot. It clanks off the back of the rim. How likely is he to be the next person on his team to attempt a shot? And what are the odds that his follow-up shot will come from behind the…
Although blocked for now, New York Mayor Michael Bloomberg’s Soda Ban has many wondering what tactics could actually help consumers kick certain bad habits? Threats? Pricing? Bans? Graphic images? What actually works and what role should the government play? I recently had the pleasure of participating in a discussion addressing all these questions. Listen to…
One of the dangers of studying behavioral economics and psychology is that the ideas follow you around pretty much everywhere you go. I was reminded of that when some of my students came back from a mid-class bathroom break to tell me they thought the toilet levers were not well designed, environmentally speaking. At Duke,…
As a fan of free markets, I recognize that sometimes intelligent government regulations (not always an oxymoron!) can improve markets by requiring companies to provide consumers with information that will help them make better choices. Informed consumers, after all, are a central ingredient of a successful free market. That’s why even most libertarians support regulations…