When does one of the central ideas in economics work?

The concept of equilibrium is one of the most central ideas in economics. It is one of the core assumptions in the vast majority of economic models, including models used by policymakers on issues ranging from monetary policy ...

How different types of knowledge impact the growth of new firms

Diversifying into new industries is vital to an economy's ability to grow and generate wealth. But to branch out into new industrial activities, a city, region or country must first have a pool of people with the right mix ...

How experienced buyers can mitigate economic bubbles

(Phys.org)—Over the last decade, many people got a tough primer on the effects of economic bubbles, as the bursting of the 2007-2008 housing bubble sent shockwaves through most of the major world economies. But property ...

Earnings show less for left-handed, says study

Much has been thrown at left-handed people—they are quick to anger, quickly scared and, with the exception of heads of state, are more or less life's losers. Much too has been bestowed upon left-handed people—they are ...

Psychology influences markets, research confirms

When it comes to economics versus psychology, score one for psychology. Economists argue that markets usually reflect rational behavior—that is, the dominant players in a market, such as the hedge-fund managers who make ...

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