Author: EconLearner

The researchers call these scenarios “representational thinking.” But contrarian thinking is not limited to our personal or professional lives. In a recent study, Neil Roseprofessor of marketing at Kellogg, and his colleagues investigate how it plays out in the political arena: What we think the world would be like if politicians had he acted differently?As the American left and right become increasingly polarized over how to interpret events, the group wondered whether similar partisanship would color opposing thinking.They suspected it might. After all, says Roese, facts are somewhat limited by observation, but counterfactuals are “more open to the imagination.”The researchers…

You are not alone. Misunderstandings abound in digital communication, where “there is a limited wealth of information compared to face-to-face interaction,” he explains William J. Bradyassistant professor of management and organizations at the Kellogg School.New research from Brady and co-authors shows that the same basic principle applies to interpreting the emotions of people who post on social media. Specifically, the study finds that people perceive more moral outrage in political posts than the authors felt when they wrote them. This is especially true for people who regularly use social media to learn about politics.This skewed outrage detection—a kind of large-scale,…

Since that historically tumultuous election, awareness of and opposition to the Electoral College has grown. To date, 16 states and the District of Columbia have passed it National Interstate Pact of Popular Suffrage, which requires participating states to allocate their electors to the winner of the popular vote. (The compact will go into effect only if and when states representing a 270-vote majority of the Electoral College sign the compact.)Critics of this distinctly American institution often cite its historical connection to slavery and disproportionate weighting of small and volatile positions as the main reasons for its abolition. But in a…

Since that historically tumultuous election, awareness of and opposition to the Electoral College has grown. To date, 16 states and the District of Columbia have passed it National Interstate Pact of Popular Suffrage, which requires participating states to allocate their electors to the winner of the popular vote. (The compact will go into effect only if and when states representing a 270-vote majority of the Electoral College sign the compact.)Critics of this distinctly American institution often cite its historical connection to slavery and disproportionate weighting of small and volatile positions as the main reasons for its abolition. But in a…

Imagine trying to demonize Christmas. The Grinch succeeded and failed. It is hard to put an ugly face on what is glorious. Despite this truth, the FTC continues to try to demonize the beloved Amazon. The strategy its bureaucrats have settled on appears to be rooted in finding fault with Amazon’s behavior toward its third-party sellers. Punches don’t land, though, and they don’t land because they’re countered. Basically the FTC is contradicting itself. To see why, consider the FTC’s original lament that Amazon loomed so large in an online sales market it created. The number it reached was 38 percent…

Eighty-nine percent of Niche survey respondents said a college’s tuition price affects whether they will apply or inquire about the school. getty With the Americans struggling again repay $1.6 trillion in student debt (second only to mortgage debt), high school seniors (and their parents) are becoming increasingly price-sensitive in their college search. For private colleges that have long relied on a combination of high sticker prices offset by large financial aid packages, that could be a problem. In a new overview of current high school seniors registered with the college search and evaluation website Niche.com, 89% said a school’s published…

SACRAMENTO, CA – JULY 21: California Public Employees Retirement System (Photo by Max … [+] Whittaker/Getty Images)Getty Images A new CalPERS proposal I will “more than double climate-focused investment to $100 billion by 2030” and “consider selling shares in companies with poor energy transition plans.” The rationale for implementing this strategy is, apparently, that the investment giant already knows how to deal with the complex problem of global climate change, and that companies that do not address climate change will have a worse financial performance. Both claims are demonstrably false. Tesla exemplifies the risks and rewards of investing in a…

Insured Americans have been ripped off for years. Fortunately, Americans in two states have new resources to protect themselves. New state laws Tennessee (valid from July 1) and Texas (valid September 1) Now give insured Americans in individual, small business plans the ability to save money when paying cash for more affordable services while still receiving a credit discount. Tennessee extended this offer to public employees as well. These reforms break down the barriers that prevent patients from accessing the most affordable care while laying the foundation for a true market in government health care systems. Cash prices in NashvilleCicero…

Nuclear power has been on shaky ground across the United States for the past decade, but recent federal and state policies have come to its rescue. Nuclear plants have been reliable workhorses for the past half century, producing large amounts of electricity without polluting the atmosphere. However, the rapid rise of low-cost renewables and the intermittent availability of low-cost natural gas have squeezed the profit margins of nuclear plants, forcing dozens to consider an early shutdown. Nuclear power station after sunset. Dusk landscape with large chimneys.getty Several states have stepped in to keep their nuclear plants online, citing the benefits…

Redwan Hussein (L), representative of the Ethiopian government, and Getachew Reda (R); … [+] A representative of the Tigray People’s Liberation Front (TPLF), shakes hands for a peace agreement between the two sides during a press conference on the African Union-led negotiations to resolve the conflict in Ethiopia at the offices of the Department of International Relations and (DIRCO) in Pretoria on November 2, 2022. (Photo: PHILL MAGAKOE/AFP via Getty Images)AFP via Getty Images In October 2023, as the UN Human Rights Council concluded its autumn session, the International Committee of Experts on Human Rights in Ethiopia (the Committee of…