Economics is the social science that studies the production, distribution, trade, and consumption of goods and services. Economics uses a mix of psychology, mathematics, experiment, and analysis to predict and understand economies.

The More You Do Something, the More You Value it


The More You Do Something, the More You Value it

The more time and energy you put into something, the more you value it. This Escalation of Commitment phenomenon (or commitment bias) relates to a number of other decision making biases.

Everything Depends on Frame of Reference


Everything we perceive depends on our frame of reference. What we observe is relative to our point of view. In other words, “it is all a matter of perspective”.

Money Can Buy Happiness


Money Can Buy Happiness

Money can buy happiness in some ways, and cause unhappiness in others, studies have shown that different types of wealth and income affect happiness and unhappiness in a variety of ways.