I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

There is an old joke in economics about two economists walking together down the sidewalk. One of them stops the other and says, “Look! There’s a $100 bill lying there on the ground!” As he stoops to ...

We don't always behave the way economic models say we will. We don't save enough for retirement. We order dessert when we're supposed to be dieting. We give donations when we could keep our money for ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

In 2006, economists at the Federal Reserve Bank of New York started to worry about the overheating US housing market. Concerned that the bubble might burst, they used their best model to predict what ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

Two professors and economists—Oliver Hart and Bengt Holmström—received the Nobel Prize in Economic Sciences Monday for their insights into modern contract theory, specifically how businesses and ...

THOSE who are interested in geography as a subject to be expounded educationally must welcome every approach to it which may add to its effective rationalization and bond it into the main structure of ...

Eric's career includes extensive work in both public and corporate accounting with responsibilities such as preparing and reviewing federal, state, and local tax filings; supporting multinational ...