Since her Netflix show “Tidying Up,” Marie Kondo has become famous for her KonMari method. Marie Kondo has helped tidy households through her technique which places a high value on showing a deep gratitude for all of your belongings. She urges people to keep only those items which spark joy. Things which do not spark joy are then thanked and discarded. When thinking of this method in terms of economics instead of asking if an item sparks joy, we can ask “does it spark utility?” Utility is the term economists use to label the satisfaction or benefits consumers get from consuming Continue reading Does it Spark Utility?
Video games have been around since the 1950s when the “cathode-ray tube amusement device” was first invented. But now video games have taken a new form of entertainment as “professional gaming” has become popular in the last few years. The video game industry has seen much growth, especially over the 21st century, and the industry has realized a total revenue of about $23.5 billion in 2015. Of course, with this type of money flowing into the industry there must be consumers who are dedicated to these products and there are. The reason that the industry has been expanding is because Continue reading Dependency on Sponsorship: Professional Gaming
This past week, the US Department of Transportation released safety guidelines to auto manufacturers regarding the production of autonomous and semiautonomous cars. This is broken down by the New York Times here. One of the points that caught my eye was the “Ethical Considerations” section, and an example it gave, “should a car be programmed to better protect its occupants or other drivers in a crash?” In this situation, the autonomous car supposedly would have to be able to calculate the worth of the people inside and outside the car, and then based on those values, make a decision on Continue reading Who is Worth More to your Autonomous Car?
We all know the feeling when we get an unwanted gift, whether it is an unexpected pet fish, a candle to add to the pile, or Aunt Clara’s rabbit pajamas: sometimes people, even with the best intentions, miss the mark. Current Apple CEO Tim Cook, is currently facing a twitter-storm because Apple automatically credited a U2 album to everyone’s iTunes account, regardless of whether they wanted it or not. Many people are countering, saying that it’s extremely selfish to be upset about receiving a free album. “What kind of person would complain about that” or, “Who doesn’t love Bono!” they Continue reading Uncle Timmy Bought You a Hip New CD