Learn how the ratchet effect influences economic processes, consumer behavior, and market dynamics, with examples from political economy and business sectors.

Discover what administered prices are, their role in economies, examples from history, and how they impact supply, demand, and economic efficiency.

Ameyavikram Pathak is Chief Executive Officer of investment management firm AVP Holdings and member of the Finance Committee of the Princeton Foundation for Peace and Learning. Armen Baibourtian is ...

People like to help those who are helping them, and to hurt those who are hurting them. Outcomes reflecting such motivations are called fairness equilibria. Outcomes are mutual-max when each person ...

The new political economy, a recognized sub-discipline of economics, actually has several roots in economics and political science. The most recent approach to the origin of the new political economy ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...