Why Don’t We Give Cash at Christmas?
Take a moment to sift through your memories of Christmas past. What’s the best present you’ve ever received? It is unlikely that your answer is cash. And from an economic perspective, the fact that it is unlikely to be cash is interesting. That’s because a core tenet of classical economics is that people generally make […]
Why We Sometimes Do the Opposite of What We Are Told: Romeo, Juliet, and Reactance
According to a recent YouGov poll, William Shakespeare remains the UK’s third most popular writer (just behind JK Rowling and Terry Pratchett). His most popular play is Romeo and Juliet, which the majority of the UK population claim to have seen or read. One of the most captivating elements of the play is the way […]
When is a Longer Wait Better than a Shorter Wait?
Imagine that you call your local GP practice and are swiftly placed on hold. You are about to hang up, but you are informed that you are fifth in line. Expecting a short wait, you decide to stay on the phone. Five minutes later, you are told that you have progressed to fourth. After another […]