Economics is the study of how humans make decisions about allocating scarce resources. We all do that every day. So I make my microecon students identify examples of key economic phenomena in their ...

John Rust, an economics professor at Georgetown University, spoke about the rational capacities of humanity and artificial intelligence (AI) at a Feb. 21 lecture to members of the university community ...

For roughly two decades, the new science of behavioral economics has been challenging what economists call “rational choice theory.” Rational choice theory described that primate species called Homo ...

In HIERARCHY, DISAGREEMENT, AND FOOD POLITICS food economist Jayson Lusk discusses Maslow’s Hierarchy of Needs and a modification or application by Ellyn Satter. Satter conceptualizes a hierarchy of ...

On May 24, 2023, Steven Pinker and Richard Thaler, two of the world’s leading behavioral scientists, engaged in a wide-ranging discussion on rationality, AI, overcoming collective action problems, and ...

If you think about the process of de-cumulating wealth, and making the rational decision, it's really, very, very tough. We focus on inequality of the top side but the real terrible thing is it's the ...

Though his name and life story have received wide public recognition since the 2001 film "A Beautiful Mind," Nobel laureate in economics John Nash Jr. has not let Hollywood steer him from the field in ...

Introduction. Macro and Credit – Stagflation is a direct threat to fixed income in particular and asset prices in general. The Fed is playing “Atlas” with the US dollar and cannot afford to "shrug" ...

I recently read an article by the Nobel Prize-winning economist Paul Krugman in which he described the renewed battle between so-called freshwater economists (so named because they are largely based ...

Bitcoin's censorship resistance depends not only on miners' decentralization, but their economic rationality, and therefore sustainability. Some miners at OCEAN have started making use of the Coin Age ...

In a September 16, 2016 essay in the New York Times, David Z. Hambrick and Alexander P. Burgoyne made an interesting distinction between intelligence and rationality. Drawing mainly on the work of ...