A study of over a million lonely hearts ads found that personality has become more important than finances when it comes to choosing a partner in western countries. However, finances remain a key factor in India. Explore how partner preferences have changed over time and across cultures.

Charitable donations are a common practice in today's society, but have you ever wondered why we give and how we choose who and how much to give to? The science behind charitable donations is a fascinating and complex topic that encompasses aspects of psychology, sociology, and economics. Let's dive into the world of giving and explore the reasons why we choose to donate and how we make our decisions. First, it's important to understand that giving is not just about altruism. There are many psychological and social factors that play a role in our decision to donate. For example, the principle of reciprocity states that we are more likely to give when we receive, and social comparison theory suggests that we are influenced by the giving behaviors of others. Research has also shown that giving can increase our happiness and well-being, as it activates the pleasure centers in our brain and enhances our sense of purpose. In terms of how we choose who and how much to give to, a popular theory is the idea of a single narrative — that we are more likely to give when charity advertisements feature a single, identifiable beneficiary. Psychologist Nathalie Nahai believes that the personal connection, or the relatability, of the beneficiary is the key to soliciting more donations. “The public now responds much better if they can follow a concrete and tangible impact in a charity advert," she claims, and thus an advert seems more real and impactful with just one single person. Another important factor to consider is the concept of effective altruism. This idea, championed by leading academics such as William MacAskill, suggests that we should prioritize our giving based on evidence and research, rather than just emotions or personal connections. By focusing on organizations that are highly effective and efficient, we can maximize the impact of our donations and help to alleviate the greatest amount of suffering. In conclusion, the science of giving is a complex and multifaceted topic that can help us better understand why we give and how we make our decisions. Whether it's because of psychological factors, social influence, or a desire to make a positive impact, charitable donations play an important role in our lives and in the world.

In "Happiness," economist Richard Layard delves into the paradox of our society's pursuit of wealth and happiness. Despite significant increases in income, we have not become happier. Layard draws on research from psychology, sociology, and economics to identify the key conditions that generate happiness. This book offers a road map for a happier life, grounded in hard research that will surprise you. Recommended for anyone interested in the intersection of economics, psychology, and sociology, "Happiness" offers valuable insights into the causes of happiness and how we can effect it. Layard's research and analysis provide a new perspective on the paradox of our society's pursuit of wealth and happiness. This book will be of particular interest to students of economics, psychology, and sociology, as well as professionals in fields such as public policy, social work, and counseling. Anyone looking to improve their own well-being will find valuable guidance in "Happiness."

Sugar: A Bittersweet History is a fascinating exploration of a commodity that has shaped human history in ways we rarely consider. From its role in fueling the Industrial Revolution to its connection to modern-day fast food, this book offers a perceptive and provocative investigation of a substance that most of us consume every day. Impressively researched and commandingly written, this engaging book will leave you with a new understanding of the impact of sugar on our world. Recommended for anyone interested in the intersections of food, history, and society, Sugar: A Bittersweet History is a must-read. This book will be particularly relevant to students of history, sociology, and economics, as well as those interested in the politics of food and agriculture. It also has important implications for those concerned with issues of social justice, as it explores the brutal history of sugar production and its connection to slavery. For anyone looking to deepen their understanding of the world around them, Sugar: A Bittersweet History is an essential addition to your reading list.

Ahoy, matey! Are you ready to set sail on a journey through the hidden economics of piracy? In "The Invisible Hook", Peter Leeson explores the rationality behind pirates' notorious behavior, from their "pirate code" to their search for plunder. But that's not all - Leeson argues that pirates were actually pioneers of remarkable practices, such as constitutional democracy and workers' compensation. He even suggests that pirates exemplified the virtues of vice, proving that anarchy could be organized. Join Blackbeard, Black Bart Roberts, and Calico Jack Rackam on this swashbuckling adventure through history's most colorful criminals. Recommended for history buffs, economics students, and anyone interested in the intersection of rationality and criminal behavior. This book offers a unique perspective on piracy, revealing the economic forces that drove pirates to adopt certain practices and behaviors. It also highlights the surprising ways in which pirates were ahead of their time, from their adoption of constitutional democracy to their early system of workers' compensation. The book's exploration of the virtues of vice and the organization of anarchy may also appeal to those interested in political philosophy and sociology. Overall, "The Invisible Hook" is a fascinating and entertaining read that sheds light on a little-understood aspect of history.

Does money buy happiness? Research shows that, on average, larger incomes are associated with ever-increasing levels of happiness. But the relationship becomes more complex when considering emotional well-being. An adversarial collaboration between researchers from Princeton and Penn universities reconciles contradictory findings and shows that, while most people experience greater happiness with larger incomes, an unhappy cohort in each income group shows a sharp rise in happiness up to $100,000 annually and then plateaus. For everyone else, more money was associated with higher happiness to somewhat varying degrees.

Costly signaling, in which people display their wealth to seem desirable, has been around for a while now! From high-end Rolex watches to modest co-workers, discover how we use wealth, status and behavior to impress others and how game theory explains this seemingly irrational behavior.

The Great Depression was a significant global economic crisis that lasted from 1929 to the late 1930s, leading to severe consequences for people worldwide. From the US stock market collapse to failed banks, bankruptcy, and the rise of Hitler's Nazi Party, this period marked a significant turning point in world history. Learning about this critical historical event can provide you with a comprehensive understanding of the economic concepts that govern our lives today. Through exploring the Great Depression, you can develop critical thinking, analytical skills, and a sense of how economic policies shape our world. By understanding the past, we can learn to make better decisions in the future.

Have you ever wondered why finance is often seen as deceitful and infamous? Harvard Business School professor Mihir Desai explores this question in his book, "The Wisdom of Finance." Desai uses literature, film, history, and philosophy to explain the inner workings of finance in a way that has never been seen before. This book offers a refreshing and unique perspective on one of the world's most complex and misunderstood professions. You'll be surprised to learn how principles of finance can provide answers to critical questions in our lives, from the lessons of mergers applying to marriages to bankruptcy teaching us how to react to failure. Recommended for students of finance, economics, business, and humanities, "The Wisdom of Finance" offers a new perspective on the principles of finance. This book is also relevant to those interested in risk management, fiduciary responsibility, and the true value of relationships. The mix of finance and humanities leads to unusual pairings, such as Jane Austen and Anthony Trollope being guides to risk management and Jeff Koons becoming an advocate of leverage. Mihir Desai's exploration of finance through literature, film, history, and philosophy will inspire readers to see finance in a new light and understand the core humanity of this profession.

China, historically a tea-drinking nation, is now the fourth-largest market for ready-to-drink coffee. With convenience being the driving factor, instant coffee has seen a seven to ten percent annual expansion in the past decade. Discover the origins and evolution of instant coffee, from the first powdered drink in 1771 to the rise of Nestle's Nescafe and Starbucks' VIA. Learn about the key players and innovations that have paved the way for the mainstreaming of coffee connoisseurship.

Information overload is a growing concern in today's world, where technology has made it easier for businesses to access vast amounts of data. However, this has led to the paradox of too much information and too little time, leading to individuals and organizations struggling to make informed decisions. The impact of information overload on decision making has become a major topic of discussion among leading academics, such as Daniel Kahneman and Richard Thaler, who have explored the role of heuristics and biases in decision making. Studies have shown that individuals who have access to more information tend to experience increased anxiety and stress, leading to poor decision making and decision avoidance. Businesses have taken advantage of this by presenting their customers with an overwhelming amount of information to make their decision more difficult, often leading to impulsive purchases. This practice, known as 'nudge theory', was popularized by Thaler and Cass Sunstein, who argued that by presenting individuals with a small change to the environment, they can be influenced to make a different decision. An example of how businesses use information overload to their advantage is the use of advertisements on social media. Advertisers use algorithms to determine which advertisements to show to each user, often leading to an endless scroll of irrelevant or unwanted advertisements. This leads to individuals feeling overwhelmed and bombarded, often leading to impulsive purchases, simply to make the advertisements stop. To prevent falling victim to information overload and poor decision making, it is important to practice critical thinking and to seek out reliable sources of information. This can be done by asking questions, seeking out multiple perspectives, and by taking the time to reflect on one's own thoughts and feelings. In conclusion, by understanding how businesses use information overload to their advantage, we can make more informed decisions and take control of our own lives.

Enter the mind of Adam Smith, the father of modern economics, and explore his magnum opus, 'The Wealth of Nations'. This classic work, considered the first modern work of economics, delves into the nature and causes of wealth in society. Smith's insights on political economy and moral philosophy continue to shape economic thought today. With an unabridged and illustrated eBook report, readers can navigate through Smith's complex ideas with ease. Discover the antidote to superstition and enthusiasm with 'The Wealth of Nations'." Recommended for students of economics, political science, and philosophy, as well as anyone interested in the history of economic thought. This book provides a foundational understanding of modern economics and the role of government in shaping economic policy. Additionally, those interested in the intersection of morality and economics will find Smith's insights on the subject thought-provoking. The book is also valuable for professionals in the fields of finance and business, as it offers a historical perspective on the evolution of economic systems. Overall, 'The Wealth of Nations' is a must-read for anyone seeking to deepen their understanding of economics and its impact on society.

Do you struggle to save money, resist impulse purchases, or stick to a budget? You're not alone. Many people find it challenging to make good financial decisions, but what if there was a way to nudge ourselves in the right direction? Enter behavioral design, a field that uses insights from psychology and behavioral economics to create products, services, and experiences that influence our behavior in positive ways. In financial management, behavioral design can be used to help people make better decisions about spending, saving, and investing. One key concept in behavioral design is choice architecture, which refers to the way options are presented to us. For example, research shows that people are more likely to save money when they are automatically enrolled in a savings plan than when they have to opt-in. Similarly, offering multiple payment options (e.g., credit card, debit card, cash) can encourage people to spend more than if only one option is available. Another important concept is mental accounting, which refers to the way we categorize and prioritize our money. For example, people tend to treat windfall money (e.g., a tax refund) differently than earned money (e.g., a paycheck). Behavioral design can help us leverage these mental accounting tendencies to make better financial decisions. Leading academics in the field of behavioral design, such as Richard Thaler and Cass Sunstein, have written extensively about these concepts and their applications. Thaler, in particular, was awarded the Nobel Prize in Economics in 2017 for his work on behavioral economics. But it's not just academics who are using behavioral design to improve financial management. Companies like Acorns and Digit use behavioral design to encourage saving and investing, while apps like Mint and YNAB use it to help people budget and manage their money more effectively. By exploring this topic further, you can gain a better understanding of how behavioral design can be used to improve financial decision-making and potentially apply these insights to your own life.

Have you ever been lured into purchasing a product because of a big discount, only to find out that the item was actually overpriced to begin with? This is a common tactic used by companies to manipulate consumer behavior and increase their profits. The concept of consumer product discounting has been studied by leading academics such as Marketing Professor Pradeep K. Chintagunta of the University of Chicago Booth School of Business, who has written extensively on the topic. He explains that companies use discounts to create an illusion of savings and manipulate consumer perception of value. Studies have shown that discounts have a psychological impact on consumers, making them more likely to purchase products that they may not have otherwise considered. In fact, a report by Forbes found that discounts are the most effective marketing tool for increasing sales. However, this can come at the expense of the consumer, who may not be getting the best value for their money. For example, companies may use "dynamic pricing" to adjust the price of a product based on demand. This means that prices may be inflated during peak times, and then discounted to create the illusion of a good deal. This can be seen in the travel industry, where prices for flights and hotels can change multiple times a day. Another tactic companies use is "price anchoring", where they display a high original price for a product, or show prices of alternative products, in order to make the product they are trying to sell seem like a better deal. For example, a retailer may list the original price of a shirt as $100, but offer it for a discounted price of $50. Or, a tech company may display the "basic" version of their anti-malware programme at $20/month and "premium" version at $30/month, making the more expensive version seem like a greater deal for an additional $10/month. Consumers may see this as a great deal, even though they may have never considered purchasing the shirt at the full price or the premium version of the anti-malware programme. It's important to be an informed consumer and to do your research before making a purchase. Check the original price of the product and compare it to prices from other retailers to ensure that you're getting the best value for your money.

Have you ever found yourself struggling to resist the temptation of immediate gratification, even when you know it's not in your best long-term interest? If so, you've experienced the cognitive bias of intertemporal discounting, a fascinating and pervasive phenomenon in human decision-making. Intertemporal discounting is the tendency to place greater value on immediate rewards than on delayed rewards, even if the latter is objectively more significant. This bias can lead to a range of harmful behaviors, from overspending and procrastination to addiction and poor health choices. But why do we succumb to intertemporal discounting, and what can we do about it? One leading theory suggests that our brains are wired to prioritize short-term gains because our evolutionary ancestors needed to survive in a constantly changing and uncertain environment. Another theory suggests that cultural and societal factors, such as advertising and peer pressure, also play a role in shaping our discounting behavior. Regardless of the underlying causes, the consequences of intertemporal discounting are clear. For example, research has shown that people who discount the future more heavily are more likely to be overweight, have lower academic achievement, and experience more financial difficulties. However, understanding and addressing intertemporal discounting is not just important for individuals. It has broader implications for public policy and the economy. For instance, policymakers need to take into account the fact that people often prioritize short-term benefits over long-term costs, which can lead to unsustainable policies and practices. So, what can we do to mitigate the effects of intertemporal discounting? One approach is to increase awareness and education about the bias, so people can recognize when it's happening and make more deliberate, future-oriented decisions. Another approach is to use behavioral interventions, such as rewards and reminders, to nudge people towards more patient and thoughtful decision-making. Leading academics in this field include Nobel laureate Daniel Kahneman, who developed prospect theory, and George Ainslie, who proposed the hyperbolic discounting model. Their research has shed light on the complex and multifaceted nature of intertemporal discounting and its impact on human behavior. By exploring the cognitive bias of intertemporal discounting, you can gain a deeper understanding of human decision-making and learn strategies to make better choices for yourself and for society as a whole.

Discover how a bankrupt Venetian merchant's risky trade for pepper led to a gateway of riches, and how spices became the marquee good of medieval high society.

Have you ever wondered about the history of your favorite fast food? Fish and chips have been a staple in the UK for over 150 years, with 80% of the population visiting a fish and chip shop at least once a year. This combination of fried fish and chips has a fascinating history, from the separate origins of fried fish and chips to their combination in the streets of London. The popularity of fish and chips only grew with the help of trawl fishing and the railway boom of the 1870s, leading to the opening of thousands of fish and chip shops across the UK. Learning about the history of this beloved dish not only satisfies your curiosity but also teaches you about the cultural and economic factors that contributed to its success. So, next time you enjoy a crispy and fluffy fish and chips, remember the fascinating history behind it.

Food has always been an integral part of culture, and it has the power to break down cultural barriers and stereotypes. Sriracha sauce is one such example of a food item that has brought people together from different cultures and backgrounds. In this write-up, we will explore how Sriracha sauce has become a symbolic product in the global food trade, its cultural significance, and how it has contributed to breaking down stereotypes through cross-cultural exchanges. Firstly, let's take a closer look at the history of Sriracha sauce. It originated in Thailand, where it was traditionally made with chili peppers, vinegar, garlic, sugar, and salt. The sauce gained popularity in the United States when David Tran, a Vietnamese immigrant, started producing and distributing his own version of the sauce under the brand name "Huy Fong Foods." Today, Sriracha sauce is a staple condiment in many American households and has become a global phenomenon, with companies producing their own versions of the sauce in countries such as Australia and South Africa. Sriracha sauce has become a symbolic product in the global food trade, and its popularity has contributed to the breaking down of cultural barriers. The sauce has been incorporated into different cuisines and cultures worldwide, from Japan to Mexico to Australia. This has created opportunities for cross-cultural exchanges and has helped to break down stereotypes and prejudices that exist between different cultures. In addition to its cultural significance, Sriracha sauce has also had a significant impact on the global food trade. It has become a sought-after product, with companies such as Huy Fong Foods exporting their sauces to countries such as Canada, Australia, and Europe. However, the global trade of Sriracha sauce has not been without controversy, as it has been the subject of trade wars between the United States and countries such as China. Academic experts in the field of food studies have explored the cultural and economic significance of Sriracha sauce in depth. One such expert is Krishnendu Ray, a professor at New York University who has written extensively on the cultural and economic implications of the global food trade. In his book "The Ethnic Restaurateur," Ray explores how the growth of the global food trade has impacted the restaurant industry and has contributed to the breaking down of cultural barriers. In conclusion, Sriracha sauce is more than just a condiment; it is a symbol of cross-cultural exchanges and breaking down stereotypes. Its popularity has contributed to the global food trade and has provided opportunities for people from different cultures to come together and share their culinary traditions. By exploring the cultural and economic significance of Sriracha sauce, students can gain a deeper understanding of the power of food in promoting cultural understanding and breaking down barriers.

Can a country's culture influence its entrepreneurship rates? A recent study shows that second-generation immigrants from countries with a strong culture of entrepreneurship are more likely to start their own businesses. Discover the underlying mechanisms and implications for national economic performance.

Customers feel better when decisions are made in their favor by a person rather than an algorithm. But why is this the case? A new paper by Wharton marketing professor Stefano Puntoni and colleagues explores the psychological reasons behind customer's positive and negative reactions to decisions made by humans vs algorithms.