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Behavioral Economics
Prisoner’s Dilemma: It’s You or Me
Problem
Maggie and Lou are found at a crime scene. Given the physical evidence, they’re each looking at about one year in prison. However, the cops want more than that. They take ...
Introduction to Behavioral Economics: Acting Irrationally
Have You Ever?
Picture yourself at the mall. When you go shopping for clothes or electronics, how do you make the choices that you make? What’s influenced you to make these decisi...
Tragedy of the Commons: All I Want is Everything
Background
Picture this: It’s the 1950s. There are very few regulations in place regarding the hunting of wild animals - it’s a free-for-all. You are a hunter in Kenya, seeking to...
Offsetting Behavior: A Risky Business
Have You Ever?
You’re the goalie on your local soccer team. Whenever you’re on the field, your coach insists that you wear knee pads. “They’ll help prevent your knees from getting...