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The Curious Case of What We Own: Unpacking the Endowment Effect in Economics
Economics isn’t just about numbers and market charts—it’s also a fascinating exploration into the quirky behaviors of human psychology. One of the most intriguing phenomena in behavioral...
Case Study: Understanding Behavioral Economics Through the Lens of Real-World Decision-Making
Economics has long been dominated by the idea that humans are rational decision-makers. In classical economics, people are assumed to carefully weigh costs and benefits, make decisions that maximize...
Understanding Taxes When Living Abroad: What You Need to Know
When people think about moving abroad, they often picture sandy beaches, cobblestone streets, and a fresh start. What they might not envision, however, is a pile of U.S. tax forms to accompany their...
The Kodak Closed-Loop System: A Lesson in Business Innovation and Failure
The world of business innovation is full of success stories, but it is also home to cautionary tales—examples of companies that got it right for a while but eventually faltered. Kodak, a name that...
The Complexities of Tipping: Financial and Moral Considerations in Modern Society
Imagine this scenario: you're sitting in a cozy restaurant after enjoying a delightful meal. The bill arrives, and now comes the familiar moment—do you leave a tip? If so, how much? Tipping is...
Understanding Parkinson’s Law: How It Impacts Productivity and Personal Finances
Have you ever found yourself scrambling to finish a task right at the last minute, even though you had plenty of time to get it done? Or noticed that no matter how much money you earn, your expenses...