The experimental literature and studies using survey data have established that people care a great deal about their relative economic position and not solely, as standard economic theory assumes, about their absolute economic position. Individuals are concerned about social comparisons....

People care a great deal about their relative economic position and not solely about their absolute economic position. However, behavioral evidence is rare. This paper provides evidence on how the relative income position affects professional sports performances. Our analysis suggests that if a...

Research evidence on the impact of relative income position on individual attitudes and behaviour is sorely lacking. Therefore, this paper assesses such positional impact on social capital by applying 14 different measurements to International Social Survey Programme data from 25 countries. We...

Modern reflection about the good life and the good society has been dominated by a spirit of liberal optimism, according to which people typically know what's good for them and make prudent choices in pursuit of their interests. As a result, people tend to do best, and pretty well at that, when...

Attention has become one of the most scarce—and therefore most valuable—assets in modern economies. Humans now trade vast amounts of attention each day in exchange for an ever-growing variety of digital products and services. The global coronavirus pandemic drastically accelerated the...

Bayesian consumers infer that hidden add-on prices (e.g. the cost of ink for a printer) are likely to be high prices. If consumers are Bayesian, firms will not shroud information in equilibrium. However, shrouding may occur in an economy with some myopic (or unaware) consumers. Such shrouding...

The purpose of this paper is to indicate how the knowledge of complex systems can be put into practice to counter climate change. A contribution of the paper is to show how individual behaviour, institutional analysis, political science and management can be grounded and integrated into the...

Indian country in the United States is incredibly poor. Indian nations desperately need to develop reservation economic activities. Most tribal governments, however, are primarily focused on developing tribally owned businesses. This article argues for Indian peoples and governments to revive...

Google occupies a powerful position within the United States economy, a position which many have begun to consider too powerful. Google’s power is derived almost entirely from how it uses the billions of pieces of information it collects on its users—a collection of information known as big...