The Royal Norfolk Show: Layers of Impact

Research by Dr Bahar Ghezelayagh and a team of Economics students has found that the Royal Norfolk Show (RNS) generated £20 million for Norfolk in 2018. If you were to ask a member of the public what they think an economic researcher does they would probably picture a lonely figure, hunched over the computer, crunching through numbers to get published in journals only read by other academics. The reality of this project is very different! Continue reading “The Royal Norfolk Show: Layers of Impact”

The Premier League Beckons for the Fine City of Norwich!

By Dr Pete Dawson

The fine city of Norwich together with Sheffield United will once again be hosting Premier League from next season with Norwich clinching the title on the final day of the Football League Championship season on Sunday.  Both clubs have graced the Premier League before: Norwich as recently as the 2015-16 season whereas Sheffield have not been in the top flight since being relegated in 2006-07. Continue reading “The Premier League Beckons for the Fine City of Norwich!”

Full Marx to Chuka? Change UK and Revolution in British Politics

By Duncan Watson

“I’ve never known a night like it”. It’s 1987, the day after The Great Storm. My dad is weaving through the felled trees trying to get me to Old Hall, a commune in East Bergholt. I’m off to meet my childhood sweetheart at a mate’s party. Fast forward to today and I’m back at Old Hall. There is no childhood sweetheart this time, she’s long gone. I’m just driving through on my merry way to the new phenomena of A12 road congestion. I’m contemplating instead our current storm. British politics is in full gale. Continue reading “Full Marx to Chuka? Change UK and Revolution in British Politics”

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”

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