![]() ![]() ![]() He discusses how psychological factors influence that retailers often provide a discount for paying cash (or debit), rather than charging a fee to use credit. ![]() First, it produced an average score well into the 90s, with some students even getting scores above 100, generating a reaction approaching ecstasy. ![]() From that point on, whenever I was teaching this course, I always gave exams a point total of 137, a number I chose for two reasons. No one’s actual grade was affected by this change, but everyone was happy. This book is an informative read spanner Thaler’s career, from when he was seen as a bit of a heretic or rebel in the economics field, to broad acceptance of behavioural economics, to research leading to the concept of the Nudge, arguably Thaler’s most famous contribution to the field.įrom my own experience as a teacher, this one really jumped out: students were outraged at a test that awarded an average of 72/100 points, but were quite pleased with on that had an average of 96/137. I had this experience during my MBA, when I took my first Econ course during my career at UBC, when I worked for a provost who was an economist, and now, as I begin learning more about behavioural economics. This is the third time in my life I’ve thought: economics is REALLY interesting (that is not sarcasm). My #BookaWeekchallenge recommendation for March 15: Misbehaving: The Making of Behavioural Economics, by Richard Thaler. ![]()
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