Economics
Winning but Losing: The Winner’s Curse
The winner’s curse is when the person who most overestimates an item’s uncertain value wins the auction and overpays. This piece covers its origin in Capen, Clapp and Campbell’s 19
Articles to explore
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810 articles found
Social welfare
Bringing Scattered Charity Together: The Charity Organization Society
The Charity Organization Society (COS) was a private organization founded in London in 1869 to coordinate scattered charities so that help was neither duplicated nor missed. This a
Psychology
The Confidence of Not Knowing: The Dunning-Kruger Effect
Why are some people so confident even when they do poorly on a test, while experts often seem modest? This article explains the Dunning-Kruger effect and the classic study behind i
Logistics
Logistics That Skips the Warehouse: Cross-Docking
Cross-docking is a logistics operation in which incoming freight is not stored long-term but is sorted, transshipped, and shipped out right away. This article covers its definition
Economics
The Global Economy and an Analysis of the Balance of Payments in Major Countries
The balance of payments (BOP) is a comprehensive statistical indicator that records all financial activities arising from a country's economic exchanges with other countries. This
General knowledge
It Always Takes Longer Than Expected: Hofstadter’s Law
Hofstadter’s Law says that it always takes longer than you expect, even when you take the law into account. This piece covers its origin in Gödel, Escher, Bach, its recursive struc
General knowledge
Headlines That End in a Question Mark Usually Mean No: Betteridge's Law of Headlines
Betteridge's law of headlines is the adage that any headline ending in a question mark can almost always be answered with a single word: no. This article covers how the law came ab
Statistics
Understanding Probability Distributions and Practical Methods of Analysis
Probability distributions are a core concept in statistics and data science. This article covers their basic concepts and history, the main types and their characteristics, their m
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
Social welfare
Innovative Directions for Welfare Administration in a Changing Society
Welfare administration is a system that plays an important role in improving citizens' quality of life and strengthening the social safety net. It serves as an essential foundation
Business administration
The Shift Toward Marketing 4C and Its Stages
This time, I would like to put together material on marketing 4C, a marketing concept in business administration. The existing marketing mix, known as 4P, had the traditional 4 sta
Education
The Secret of Learning That Lasts: Desirable Difficulty
Why is what we learn easily so easily forgotten? This article explains desirable difficulty, as described by Robert Bjork, covering its meaning and origins, learning methods such a