There seems to be a growing belief that economics is a field that looks at what a perfectly rational person would do, and behavioral economics looks at what people actually do. Economics, though, is a field that views people as optimizing individuals, without specifying what each individual optimizes. Recognizing that everyone is different isn't new, nor is it outside the field of economics. It's just that it's often underneath conscious awareness. ECONOMICS BASICS As an economics graduate, I can safely say that most of economics is nothing more than various ways of saying "supply and de ..read more

It's an Olympic year, which usually means we're going to see reporters asking athletes how nervous they were when they were competing. Often, the answer the athletes give is that they weren't nervous but were actually excited. Emotions are interesting. They seem intuitive - like we should know what they are. And yet, when pressed, many of us don't really know what emotions are or what role they play in our lives. PEOPLE ARE EMOTIONAL You are a human. Thus, you experience the human condition. The human condition is what it means to be a human. Part of being human is experiencing emotion ..read more

Map apps, like Google Maps, let us enter a destination and then see directions to where we want to go. If we make a wrong turn or otherwise get distracted, the app redirects us back to where we told it we wanted to go. When people first learn to be more mindful through mindfulness meditation, they learn to focus their attention on an anchor like their breath. When people inevitably get distracted by thoughts, they can redirect their attention back to their breath. These are silly examples of how a beacon, North Star, or other flag in the ground direct us toward where we want to go, but t ..read more

Joe is out for a run on a warm, sunny morning in June. He loves running and can't imagine his life without running several times per week. Later that week his doctor tells him that there's a problem with his knees and that continuing to run is too much of a risk. He can walk, and if he likes, he can take up speedwalking. There are other forms of exercise available to him, too, like biking or swimming. It doesn't matter. Joe is devastated. He eventually tries speedwalking, but speedwalking isn't running. He hates it. He hates not being able to run. He's anchored himself to his old life ..read more

Laurie is leaving the restaurant after having lunch with close friends. It's a tight squeeze in the parking lot, making backing out of her spot quite difficult. But, Laurie's a pro. She's been driving for a long time. More importantly, her new car comes with sensors that alert her if she gets too close to anything while backing up, and even hits the brakes for her if she doesn't do it in time. What a nice tool to have! Two months later, she goes on a trip to wine country in Napa Valley. She and her friends think it would be fun to rent a convertible during their trip. They end up renting ..read more

Let's talk about playing cards and drinking water. Much of what happens is outside of our control. This is true of the things that happen to us daily, but also our starting point in life. Let's explore acceptance and action from the perspective of four quotes. OPTIMISM AND PESSIMISM "My glass is half empty, but I still might sip it." -Dax Dax is a Canadian country rapper who often writes and sings about life, existence, and pain. In his song The Abyss, he discusses the shortness of life, struggle, and avoidance. The line "My glass is half empty, but I still might sip it" starts with t ..read more

❝My head won't leave my head alone, and I don't believe it will until I'm dead and gone.❞ -Dave Matthews Band, "Rhyme and Reason" Have you ever wondered why you do what you do? Perhaps there's a change in your life you've been trying to make and haven't been able to. Often, we have scripts running in our minds that keep us from doing what we know we're supposed to do. When these scripts are about money, they are sometimes referred to as money scripts. Otherwise, you can think of them as schemas or core beliefs. Core beliefs shape our world, including our thoughts, and without investigating, w ..read more

❝My head won't leave my head alone, and I don't believe it will until I'm dead and gone.❞ -Dave Matthews Band, "Rhyme and Reason" Have you ever wondered why you do what you do? Perhaps there's a change in your life you've been trying to make and haven't been able to. Often, we have scripts running in our minds that keep us from doing what we know we're supposed to do. When these scripts are about money, they are sometimes referred to as money scripts. Otherwise, you can think of them as schemas or core beliefs. Core beliefs shape our world, including our thoughts, and without investigating, w ..read more

❝I like to walk around and act like I don't know what it is. But I know what it is, I just never wanna commit.❞ -NF, "Change" How many people do you know that have something they want to do, but haven't been able to do it? Maybe they spend money on things they don't need. Or, they spend money they don't have. Maybe they have a habit they don't want to keep up, like smoking cigarettes, but they continue smoking. Or they never exercise even though they keep making New Year's resolutions to start walking. For a lot of our problems, it's not an information problem. Usually, we know what we're sup ..read more

❝You never know how long you've got. You could step into the road tomorrow and - WHAM - you get hit by a cement truck!❞ -Calvin in "Calvin and Hobbes" Imagine going to a casino to play some blackjack. You convert your money into casino chips and start playing. With blackjack, you get to choose how much you want to bet on a particular hand. The amount you win is related to how much you bet. Bet a little - win a little. Bet a lot - win a lot. The opposite is also true, though. The amount you can lose is related to how much you bet. If you bet a little - you only lose a little. If you bet a lot ..read more