The Economy of Soccer

Share this graphic on your site! Source: The Economy of Soccer Though baseball and American football still reign as the most popular sports in the U.S., soccer is definitely on the rise. But it’s already risen in most other countries around the world. Let’s take a look at how the American fan base compares […]

Getting Value for Your Money — And Why It Matters

We all want a good deal, and we feel bad when we don’t get one, especially if we learn later that we could have gotten something much cheaper than what we actually paid for it. In that case, we feel ripped off — that we’ve lost something. Most of us don’t have a lot of […]

Decoys, Neuromarketing, and Behavioral Economics

Richard Feynman, one of the best mathematical physicists of the last century, thought that a particularly important virtue of scientists was not to fool people. To this Feynman, with his keen sense of irony, added that the easiest person to fool is oneself. Feynman, here, was speaking to the confirmation bias that infects so much of […]

What are you going to believe, me or the numbers?

In the classic Marx Brothers comedy DUCK SOUP, Groucho finds Chico with Groucho’s girlfriend in a bedroom. Chico tries to deny any hanky-panky by asking “What are you going to believe, me or your own eyes?” Obviously, Groucho should believe his own eyes and not Chico’s baldfaced lies. And yet, in many circumstances of life, […]