Tag: cost and benefit
Refugees, immigration, and the trolley problem
March 5, 2017 | Post
During the presidential campaign Donald Trump’s son, Eric Trump, tweeted a picture of a bowl of Skittles candies along with the caption: “If I had a bowl of skittles and I told you just three would kill you. Would you take handful? That’s our Syrian refugee problem.” Trump’s tweet generated backlash from many corners but […]
When to walk away: Overcoming the sunk cost fallacy
March 4, 2017 | Post
If there is a single aspect of the economic way of thinking that I struggle to put into practice, it’s the idea of letting go of my sunk costs.
What Economists Mean When They Say People Act "Rationally"
September 23, 2016 | Post
Limits to the homo economicus version of rationality are also limits to the explanatory power of some aspects of introductory-level economics. They do not, however, compromise the case for laissez-faire. If anything, they strengthen it.