Category: Behavioural

Behavioural, Economics, Finance and Markets

Perfect and Monopolistic Competition

Perfect Competition vs. Monopoly: Who Really Sets the Price?   In the real world, the pricing of goods and services can fluctuate wildly due to a plethora of economic and social factors. However, over time, economists have developed various models to simulate real-world pricing but in differing conditions; while there are, of course, multiple models, the two models that occupy opposing ends of the spectrum are … Continue reading Perfect and Monopolistic Competition

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Behavioural, Economics

The Economics of Ozempic

The economics of Ozempic  We’ve all heard of Ozempic at one point or another. Our favorite celebrities (including Oprah Winfrey and Elon Musk) use Ozempic/similar drugs daily. Ozempic, or Semaglutide, was originally a prescription drug for type 2 diabetes; however, it is now one of the most well-known weight-loss drugs, as it is known to actively reduce appetite and reduce body weight by 15%. Its … Continue reading The Economics of Ozempic

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Behavioural, Economics

Keynes in the Comments Section: Why Everyone Became Economists

A Century ago, economic discussion was limited to the confines of lecture halls and academic journals. Certainly, one would have been hard pressed to find a member of the public who could engage in some degree of literacy with you on the economic state of the country. Today, there has been a shift where these debates occur in real time across social media platforms, dinner … Continue reading Keynes in the Comments Section: Why Everyone Became Economists

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Behavioural, Economics

The Economics of Procrastination

The Economics of Procrastination: Why You’ll Always Do Your Work at the Last Possible Second  You tell yourself you’ll write your essay tomorrow. But then it’s 4am, and suddenly you’re staring at a blank page. Procrastination isn’t just a poor decision, it makes no economic sense. Behavioural economics suggests we consistently prioritise the present over the uncertain rewards of the future. It encourages individuals to … Continue reading The Economics of Procrastination

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Behavioural, Economics

Nash’s Equilibrium and Dating

The Dating Game and Nash Equilibrium: Why Most Don’t Find the Perfect Match  Love, Logic, and the Inevitable Bad Match:  Dating, as simple as it sounds, should be for people to meet, like each other, and form a perfect match. Reality, however, is rather messy—it is governed by strategic decision making and inefficiencies similar to those found in ‘game theory’.  Dating at Eton is one-sided and … Continue reading Nash’s Equilibrium and Dating

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Asia, Behavioural, China, Economics

The Economics of Chinese New Year

“The Economic Impact of Chinese New Year: Growth, Disruptions, and Opportunities”  The Spring Festival, also known as Chinese New Year, just took place. It is not only a time of cultural celebration but a period of great economic activity in China. The impact on its economy is huge, affecting tourism, retail, manufacturing and also transportation.  The Spring Festival is one of the most celebrated annual … Continue reading The Economics of Chinese New Year

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Behavioural, Economics, International

AI Phishing

As the World Locked Down, AI Went Phishing  The latest data from the Anti-Phishing Working Group (APWG), a global organisation dedicated to cybercrime prevention, shows that the number of newly discovered phishing sites jumped tenfold between 2020 and 2023, before dipping somewhat by mid-2024.  Even so, the total remains much higher than before the spike.  Phishing, in simple terms, is when online thieves pretend to … Continue reading AI Phishing

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Behavioural, Economics, UK

Cooperative Economics

People over Profits – the rise of Co-operative Economics in the UK  Co-operative economics is a system of business rapidly emerging in the UK, guided by principles of shared ownership, democratic governance, and the equal distribution of profits. Unlike traditional shareholder-driven enterprises, co-operatives – otherwise known as mutuals – prioritise the welfare of their members and the communities they serve. The two main categories of … Continue reading Cooperative Economics

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Behavioural, Economics, International, Politics

Nudges – A Dive into Behavioural Economics

Introduction:  In classical economics, individuals are assumed to be rational decision-makers. Rationality in this case means making choices that result in an optimal level of benefit or utility to the individual making the choice. This view, which is known as ‘homo economicus’, or the economic man, is the portrayal of humans as agents who are consistently rational and narrowly self-interested, and who pursue their ‘subjectively … Continue reading Nudges – A Dive into Behavioural Economics

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Behavioural, Economics, Long Read

Sticky Wages and Prices

In times of economic uncertainty, why do wages and prices often remain ‘rigid,’ even as demand drastically falls or spikes? This phenomenon, known as ‘stickiness,’ is a central concept in Keynesian economics. The father of this section of economics, John Maynard Keynes, argued that without government intervention, mainly fiscal or monetary policies, the rigidity of prices can ’trap’ economies in high unemployment and slow growth … Continue reading Sticky Wages and Prices

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