Insights Review

Remember your Economics: Reminding Consumers of Opportunity Costs

You also surrendered your ability to use those few dollars towards any other purchases, from a cup of coffee, to a newspaper, to a tiny fraction of a new BMW. Economists call these sacrifices “...

November 6, 2013

Try It, You'll Like It!

Now, finally, we know why sea hamburgers taste better than crab cakes. Shane Frederick, Professor of Marketing at the Yale School of Management, along with Leonard Lee of Columbia Business School and...

July 15, 2013

Do Not Give, and Ye Shall Receive

The arrival of spring has us cleaning out closets and deciding what we should keep, and what we can toss: The DVDs, clothes, and books from our loved ones. The equal (or likely larger) mound of...

January 29, 2013

Giving Time Gives You Time

As a sign of these busy times, twice as many Americans would prefer two weeks of vacation to two weeks of extra pay. And while there is nothing we can do to add even another minute to our days, we...

January 9, 2013

The Irrational Consumer: Four Secrets to Engaging Shoppers

Economists and marketers have long assumed that potential customers rationally weigh the costs and benefits of every possible choice before deciding what to buy. Under this assumption, marketers use...

May 23, 2012

The Power of Celebrity

In an episode of the popular sitcom Seinfeld, George thinks he has purchased a car that once belonged to the actor Jon Voight. In every conversation he finds a way to drop in the name and basks in...

November 16, 2011