I n the epilogue of their blockbuster book Mostly Harmless Econometrics (2009), Josh Angrist and Steve Pischke write, “If applied econometrics were easy, theorists would do it.” As academic jokes go, ...

The United Kingdom Treasury's Stern Review: The Economics of Climate Change was the first economic analysis of climate change to be sponsored by a government agency. The Review proved highly ...

Standard macro-economics involves an investment function based on non-linear adjustment costs. However, since the production and labour demand functions contain no terms to indicate the existence of ...

In this paper, the author introduces the theory and method of transaction cost economics to identify the essence of e-commerce model by explicating its core objective and function. From the ...

Forbes contributors publish independent expert analyses and insights. Tim Maurer covers how personal finance is more personal than finance. Sunk cost, opportunity cost, and the endowment effect. You ...

Richard H. Thaler won the Nobel Prize for Economics, a reward for 40 years of work spent studying human bias and temptation when many fellow economists preferred to view people as rational actors.

If accurate, DeepSeek’s profitability despite deep discounts would signal a sustainable low-cost AI model, potentially pressuring rivals to cut prices. Chinese AI startup DeepSeek has claimed its V3 ...