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Business administration

An Overview of Revenue Models for Online Businesses

One of the first things to consider when running a business is how to generate revenue through its services. Therefore, to sustain and grow a business, you should start with a clea

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Statistics

Torture the Numbers and They Will Confess: P-hacking

P-hacking is the practice of analysing data in different ways until a “statistically significant” result appears. We look at what p-values mean, the common ways p-hacking happens,

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Robotics

The Easy Things Are the Hardest: Moravec's Paradox

Why can computers beat chess champions yet struggle to pick up a cup? This article covers the origins of Moravec's paradox, its evolutionary explanation, examples from robotics, an

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Economics

Raise the Tax Rate, Collect Less Tax: The Laffer Curve

The Laffer Curve is a hill-shaped graph showing that tax revenue is zero at both a 0% and a 100% tax rate, so some rate in between brings in the most. This article covers its napki

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Economics

Same Product, Different Price: Price Discrimination

Price discrimination is the strategy of selling the same product or service at different prices to different groups of consumers. This article covers the concept, the first-, secon

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Psychology

One Now or Two Later? The Stanford Marshmallow Experiment

The Stanford Marshmallow Experiment studied self-control by asking young children to choose between one treat now and two treats later. This article explains how the experiment wor