The daily blog of behavioral and cognitive economics

On Prediction Market Regulation

As an economist, not a lawyer, I write here on public interest, not what is legal. Like all financial markets, prediction markets can serve many functions, such as moving and cutting risk, collect...

How $3 Became the New $1

We used to care about the dollar deal. Now it’s tough to find. Fast food has always offered us value: Value History. As recently as the Great Recession, $1 was the fast food value meal price point. Offered in 2008 (and ech...

Brain Stimulation Boosts Willpower to Quit Smoking

Quitting smoking is often a biological battle between a hyperactive reward system and a weakened self-control center. A new clinical tria reveals that a noninvasive brain stim...

Can a sprawling city make public transit work? Sydney may be on the right track

At Penrith, a suburb on Sydney’s rural fringe 50km (30 miles) west of the central business district, you ca...

After the cod

The smell of fish is everywhere, so thick it settles into your hair and follows you to bed. Aunt Barb’s house sits on the shore in Green Island Cove, Newfoundland, where the Gulf of St L...