Author Archives: bzscherpel

The funeral industry generates roughly 16 billion dollars of revenue in the U.S. Over the past decade, dying has become more expensive, with the average funeral costing around $9,000. More people are choosing to cremate or have a small service with less expensive caskets and burials. An entirely rational person would try to maximize value while minimizing expenses, but a rational decision-making process, especially regarding grieving the loss of a loved one, becomes quite difficult especially due to the environment of funerals. It becomes easy for funeral homes to take advantage of the emotional vulnerability families are in when planning Continue reading The Irrationality Behind Funerals→

The infamous British TV game show starring two contestants who would interact with one another to either split or steal a cash prize. It’s a prime example of the classic game of Prisoner’s Dilemma. Prisoner’s Dilemma is a game where two contestants can either work together to share an outcome or betray one another in hopes of getting the entire prize. The catch is that if they both betray one another, then they both get the worst possible outcome. The game’s contestants go through multiple rounds, each with an increasing cash prize. In each round they have a few minutes Continue reading Golden Balls→

When you look down at the Las Vegas strip, your attention gets caught by the dozens of casinos. It is notorious for its crazy lavish experiences and gambling. Millions of people every year go there to spend lots of money, have a good time, and make some overall bad decisions. When most people leave Las Vegas and look at their bank statements, they are shocked as to how much money they’ve really spent gambling. How is it that Casinos have gotten so good at making you spend your money? When you first step into a casino, you are bombarded with Continue reading The Art of a Casino→

Germany has a different system for workers than the US, this is just a quick insight into what rights a normal worker would be entitled to receive. Germans tend to follow the same M-F work week, but on Sundays and public holidays, only necessary workplaces (gas stations, hospitals, police, etc.…) are open. Most grocery stores and all other work are closed. The average working time an employee has can’t exceed 8 hours per day with most employees working 35-40 hours a week. Employees are given a minimum of 20 working days’ vacation per year, but on average receive 25-30. There Continue reading A Quick Snippet of German Labor Laws→

On campus, the Cellar is a popular dinner spot known for its pizzas, ice cream, and late hours of operation. A current issue the Cellar is facing is the build-up of waste. Most people order their food “to-go”, getting their food in disposable cardboard pizza boxes and ice cream cups which causes a lot of trash. One way that the Cellar helps promote ordering “for-here” instead of its counterpart, is by offering a 10% discount when you mention you would like your food in-house. Not many people do this, however, and people who eat in-house tend to order “to-go” despite Continue reading Ways to Help Increase Sustainability on Campus→

Most people know about the underrepresentation of women within STEM fields, but most aren’t aware of inequality within the field of economics. Economics is dominated by men with little representation of women as well as racial and ethnic minority groups.  Roughly 25% of all economics faculty are women, with that percentage decreasing to just 15% for full professors. Only about 34% of undergrad economics majors are women. Those percentages have stayed roughly the same since the 90s. One reason for such a lack of representation within the major is that females tend to get discouraged and receive harsher criticism than Continue reading Women in Economics→

Many people spend huge amounts of time and money trying to come up with that “perfect” gift, but is it worth it? Gifts are a way of connecting individuals to one another. Sentimental gifts given between close parties are highly beneficial as well. These gifts have oftentimes the most thought and care put into them. They may not have the most monetary value but they mean the most to the gifter and receiver. Another way gift-giving is highly beneficial is when a gift is given to a recipient who isn’t in a current position to afford said gift. For example, Continue reading Why Gift?→

Designer brands have a choke hold on many Americans with them running to go buy pieces from the latest collections, but why would so many people buy from brands like Gucci or Hermes? Around 38% of Americans bought luxury shoes in 2018 with a large proportion of them not even able to afford their purchases. A completely rational person would always act in their best interest, avoiding debt or making purchases that would better suit their income. However, people don’t act rationally, many people would rather spend thousands of dollars on a luxury branded bag with a similar quality and Continue reading Why so many people buy from designer brands→

3D printers have helped change the manufacturing process by allowing individuals to innovate at home at lower costs and without the need for big factories or hundreds of thousands of dollars. You can make almost anything with a 3D printer as long as you have some sort of software to design the product, some filament, and a 3D printer. There isn’t even that much time needed for a print, with the average lasting less than 24 hrs. You don’t need to have a business to use a 3D printer, you can buy a pretty good one for a couple hundred Continue reading How 3D printing is changing manufacturing→

     Charter Schools are tuition-free schools independent of their respective school district that receive government funding.  Only about 6% of students across the US attend charter schools and students are generally selected through a random lottery. They are given the freedom to specialize in an academic subject, like language or arts, but are still held accountable for state education standards. They help broaden families’ options, especially low-income, those who live in poor public school districts, or non-native speakers. Charter schools opening in communities lacking a good public school help bring a lot of economic activity. The school is able to Continue reading A Quick Introduction to Charter Schools→