The Behavioural Economist’s Guide to Winning at Valentine’s Day

By Dr Sheheryar Banuri

So it has come to this… Two days to go and you are worried about your Valentine’s Day plans.  You’re not quite certain what you need to plan, and how seriously you need to treat this day.  After all, it is not a holiday, and you might have only been out with your partner on number of dates (where ∈ R).  Should you do anything? How much should you spend (in terms of time, effort, money, or any combination thereof)? Continue reading “The Behavioural Economist’s Guide to Winning at Valentine’s Day”

Reciprocity and the Paradox of Trust in Psychological Game Theory

In a famous paper written in 1982, the American economist George Akerlof argued that employers sometimes pay more than the market wage rate in the expectation that this will induce their workers to be conscientious even when they are not being monitored.

According to the theory of rational choice, this kind of trust relationship is not possible between fully rational individuals. Continue reading “Reciprocity and the Paradox of Trust in Psychological Game Theory”

Super Bowl Economics: Pluralist Economics on ‘Any Given Tuesday’

By Dr Duncan Watson

I’m raging against the dying of the light; multi-tasking to maximise how much I can eek out of the rest of the day. Perusing ‘The Superiority of Economists’ , as I look for astute observations relevant to a rewrite of the latest research paper, I’m also watching the Super Bowl journey of the Los Angeles Rams and New England Patriots. Continue reading “Super Bowl Economics: Pluralist Economics on ‘Any Given Tuesday’”

Thinking Critically about Critical Thinking: The Limits of Orthodox Economics

By Lea Sixtl

The academic discipline is dominated by mainstream economics. Orthodox economics. Is there space for criticism? As it is so strongly encouraged within the academic environment: “Think critically”, they say, but all that is taught is one school of thought. A thought the majority of the crowd accepts, not daring to step outside the box and start criticising the white (wild) west.

Continue reading “Thinking Critically about Critical Thinking: The Limits of Orthodox Economics”

Neuroeconomics Soap: How the Christmas Grinch Stole My Equilibrium

By Dr Duncan Watson

“Christmas waves a magic wand over this world, and behold, everything is softer and more beautiful”. I can’t help but be seduced by Norman Peale’s quote. I love Christmas. I spend months collecting presents, planning ahead for the look of surprise and awe on the kid’s faces. I even look forward to consuming the lowly sprout. Continue reading “Neuroeconomics Soap: How the Christmas Grinch Stole My Equilibrium”

A Conversation With… Tata Vareekasem

Economics at UEA has a successful Peer Assisted Learning system (PAL), engineered by our very own Head of School: Emiliya. Reflecting staff-student partnership, we are now looking at widening the scheme to ensure more students can benefit. The School has highly successful student support and continues to find new ways to help students develop and maximise their potential. We asked one of our PAL student mentors, Tata Vareekasem, about his experience after his successful involvement in the National PAL Conference.

Continue reading “A Conversation With… Tata Vareekasem”

Damned Lies, Statistics, and Economics Education: what are economic forecasts, really?

By Dr Fabio Arico

In yesterday’s online edition of BBC News, BBC Business Editor Simon Jack explains what an economic forecast is. The article expands on the heated debate on whether Brexit will make the UK poorer, so it is extremely important that the public is correctly informed about what economic forecasts are. Continue reading “Damned Lies, Statistics, and Economics Education: what are economic forecasts, really?”

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