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The White House Budget: Does It Distort The Science of Choice?
President Obama’s budget proposal released this week has turned the arcane term “chained CPI” into a controversial buzz phrase. This new calculation for the Consumer Price Index (CPI) assumes that as prices rise, consumers will
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We Aren’t the World
Pacific Standard: IN THE SUMMER of 1995, a young graduate student in anthropology at UCLA named Joe Henrich traveled to Peru to carry out some fieldwork among the Machiguenga, an indigenous people who live north
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Q&A With Zoë Chance
Zoë Chance is a lecturer in marketing at the Yale School of Management. Her research includes consumer behavior, focusing on decision making and social welfare. We invited our Facebook and Twitter followers, as well as
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Getting Junior to Move
The Wall Street Journal: I suspect your son is suffering from two decision biases. One, the status quo bias, has to do with our tendency to take our current situation as our reference point and
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Ambiguity, Gangnam Style
The Wall Street Journal: A few years ago, Mike Norton, Jeana Frost and I looked at the question of ambiguity and found exactly the mechanism you’re suggesting—that knowing less can lead to higher liking. Focusing
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Trying for a More Upscale, Relaxed Black Friday
The Wall Street Journal: All it can take is a few TV images of Black Friday deal-chasing—the unruly crowds, packed parking lots and frigid midnight lines—to drive many shoppers straight to the Web for their
