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Monopolies: More Than a Game

Background Suppose you want to purchase a specific type of mango that is only grown in a small region in Mexico. There are many mango farmers in this region, but only one company ...

Choice Overload: Spoiled For Choice

Have You Ever? You’re at a new restaurant with some friends and having a great time. You’ve been so busy talking and catching up that you haven’t paid much attention to the menu. ...

Social Proof: Following the Crowd

Have You Ever? Can you think of a time you bought something because all your friends seemed to have it? Have you ever wondered how your decisions are affected by the people around...

The IMF: Protector of the World Financial Order?

Introduction Did you know that the combined national debt of every country in the world hovers at approximately sixty-nine trillion dollars? This is a testament to just how compli...

Human Development Index: Quantifying Quality of Life

How Do You Quantify “Quality of Life”? How are you doing, really? Beyond the knee-jerk reaction of “I’m fine, thanks,” if you pause and give this question some true consideration,...

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 ...

The Federal Reserve and Interest Rates

Have You Ever? You’ve heard it before on the news: “The Federal Reserve lowers interest rates to 0.50 percent” or “The Federal Reserve raises interest rates to 3.0 percent”. All t...