Microeconomics: Tastes & Preferences
6.3 Brides for Seven Brothers (8/31/1999)
Sex-selective abortions in China, South Korea, and Taiwan have resulted in excess of male over female births.
Sex-selective abortions in China, South Korea, and Taiwan have resulted in excess of male over female births.
Doing It Now or Later (8/20/1999)
People who believe that they will procrastinate when faced with immediate costs and prematurely appropriate immediate rewards may counteract this tendency sometimes to their own benefits.
People who believe that they will procrastinate when faced with immediate costs and prematurely appropriate immediate rewards may counteract this tendency sometimes to their own benefits.
Easy Money (12/21/2001)
If the insured takes less care to prevent loss, the insurer might be subject to unanticipated loss because of such moral hazard.
If the insured takes less care to prevent loss, the insurer might be subject to unanticipated loss because of such moral hazard.
Flat-rate Pricing (6/22/2006)
Flat-rate pricing may increase the bottom line of businesses when consumers over-estimate the amount they might consume and under-estimate the cost of un-restrained use.
Flat-rate pricing may increase the bottom line of businesses when consumers over-estimate the amount they might consume and under-estimate the cost of un-restrained use.
Framing Perceptions (6/22/2006)
Since people are risk-averse with respect to gain and risk-seeking with respect to loss, their choices can be easily manipulated by whether an offer is framed as a gain or a loss.
Since people are risk-averse with respect to gain and risk-seeking with respect to loss, their choices can be easily manipulated by whether an offer is framed as a gain or a loss.
Happiness - Absolute or Relative? (6/4/2004)
If happiness depends on one's relative wealth, one will never be absolutely happy as long as there are others who are even richer.
If happiness depends on one's relative wealth, one will never be absolutely happy as long as there are others who are even richer.
Harvesting the Future (12/21/2001)
Injury victims might be prevented from selling their streams of future settlement payments for a lump sum for fear that they might not spend their quick cash wisely.
Injury victims might be prevented from selling their streams of future settlement payments for a lump sum for fear that they might not spend their quick cash wisely.
Health Risk is a Matter of Life and Death (6/22/2006)
Health insurance premiums tend to be high for individual policies because of adverse selection and moral hazard.
Health insurance premiums tend to be high for individual policies because of adverse selection and moral hazard.
Life by default (1/16/2006)
Present bias and inertia lead to low enrollment in 401(k) retirement plans even though employer matching of employee contribution is quite generous.
Present bias and inertia lead to low enrollment in 401(k) retirement plans even though employer matching of employee contribution is quite generous.
Looks Matters (11/5/1999)
Looks matters when most people are plain looking, even in jobs where looks does not affect job performance.
Looks matters when most people are plain looking, even in jobs where looks does not affect job performance.
Luck of the Draw (9/7/2005)
Luck may be just as important and fitness in determining who survives the market test.
Luck may be just as important and fitness in determining who survives the market test.
Not Now, Later! (8/19/2009)
Self control overcomes the present-bias effect and can be enhanced through learning or external cues.
Self control overcomes the present-bias effect and can be enhanced through learning or external cues.
Private Truths and Public Lies (10/6/2000)
Private preferences, long suppressed by public sanctions, may suddenly surface to overthrow the status quo when a precipitating spark reveals a critical mass of fellow dissenters.
Private preferences, long suppressed by public sanctions, may suddenly surface to overthrow the status quo when a precipitating spark reveals a critical mass of fellow dissenters.
Statistical Victims (6/22/2006)
When identifiable victims are involved, people are willing to spend disproportionally more resources to save a few lives rather than spending the same amount to save a much larger number of statistical victims.
When identifiable victims are involved, people are willing to spend disproportionally more resources to save a few lives rather than spending the same amount to save a much larger number of statistical victims.
The Evolution of Defectors and Cooperators (8/13/1999)
There is selective advantage in being always honest even when it may be disadvantageous to do so at times.
There is selective advantage in being always honest even when it may be disadvantageous to do so at times.
The Origin of Predictable Behavior (11/5/1999)
Economic behavior is predictable largely because bounded rationality leads people to adopt rules of thumb which display greater regularity than does optimization.
Economic behavior is predictable largely because bounded rationality leads people to adopt rules of thumb which display greater regularity than does optimization.
Trust and Betrayal (5/9/2006)
Aversion to human betrayal may reduce potentially beneficial exchanges.
Aversion to human betrayal may reduce potentially beneficial exchanges.
