Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. Robert Kelly is managing director of XTS Energy LLC, ...

Economic theory has evolved into a multifaceted discipline that not only articulates the fundamental principles governing resource allocation and decision‐making but also integrates classical ideas ...

Incentives are part of our daily life and can affect everything from what we eat to how we parent our children to how we perform at work. Many everyday incentive behavior is rooted in economic ...

Whether we decide to take out that insurance policy, buy Bitcoin, or switch jobs, many economic decisions boil down to a fundamental gamble about how to maximize our wealth over time. How we ...

With every new administration there are hopes on the part of roughly a half of the population and dread on the other. It flips like a coin. A random walk, for the probability fans out there, that ...

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

This is a preview. Log in through your library . Abstract Our objective is twofold. First, we show why there is a spatial question in economic theory – why a free competitive market is unable to cope ...

When gasoline is expensive, people grumble that big oil companies like Chevron and ExxonMobil are colluding to keep prices high. They’re wrong. The best way to understand why businesses aren’t ...

Edmund Phelps is a knotty riddle for taxonomists. In the present day, with thinkers consigned to “left” or “right” on the basis of a few well-worn clichés, some would be tempted to class him as ...