One of the more interesting aspects of Economics that I learned in my masters program was the obvious point that people generally make economic decisions that benefit them the most based on the constraints faced. This concept was the main focus of the best selling Freakonomics book a few years back. In it, the authors examined various behavior and using statistics tried to determine why two seemingly disparate pieces of information were actually related. It seems fairly common sense; after all you would expect people to take actions they perceive are in their best interest. Still, why are we surprised when it happens? Read more »

Posted: August 11th, 2008 under Decisions, Improvement.
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