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Behavioral Economics, Deep Thoughts of the Irrational Mind

By Energy Rant No Comments
I promised two weeks ago that I would discuss the results of our survey concerning behavioral economics this week. Delivered. Why explain something when you can just find it on the pure, and always correct, internet. Behavioral economics is defined in the graphic below, courtesy Google search.It would be wonderful if everyone understood that nothing (nothing) comes without a cost, that the cost may be higher than one thinks, and certainly higher than the value of benefits. The following are two examples. Health Insurance and Care Everyone reading this has complained about healthcare between one thousand and one million times…
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Behavioral Economics; A Quiz

By Energy Rant One Comment
Expressions Hair Design versus Schneiderman. That may sound like a softball or bowling league matchup, but it is actually a Supreme Court case that was heard last week. How in the world does this relate to energy efficiency? It is a case of behavioral economics and the Constitution, believe it or not. Energy efficiency has everything to do with behavioral economics, or maybe it’s the other way around. Behavioral Economics Behavioral economics posits that emotional bias leads to poor economic decisions. Did someone say electric car? I couldn’t resist. There is no doubt about it. People make poor economic choices…
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