For a long time, California has been the destination for the brightest minds and most innovative companies. In pursuit of the California Dream, hundreds of thousands of people have been pulled to California’s major entrepreneurial, media, and educational hubs. However, in recent years, more people migrate out of state than…

During the past two decades, pets have evolved to become an integral part of American families. According to Euromonitor International, the global pet care industry has historically grown at 5.5% per year. In 2020, the growth rate jumped to 8.7%, amid the COVID-19 pandemic, and is expected to continue being…

On August 10, 2021, the Senate voted 69–30 to approve a roughly $1 trillion bipartisan infrastructure bill. This bill combines previously approved funds with $550 billion in new spending that the Senate approved on July 28. The legislation focuses on improving roads and bridges, internet infrastructure, electric vehicles, water systems…

As of June 2021, the US unemployment rate stayed at 5.2% (latest data available), or nearly 8.4 million people, well above the pre-pandemic level of 3.7%. Meanwhile, 9.2 million jobs are available in the US, and employers struggle to fill up open positions. What’s the reason behind such a labor…

3 Driving Forces Behind the US Electric Vehicle Industry in 2021 Over the five years to 2021, sales of electric vehicles (EVs) have grown considerably. Many countries have adopted plans to ban fossil fuel vehicles completely in the next 10 years. For example, Norway plans to phase out sales of…

According to the World Happiness Report, released in March 2021, Finland is the world’s happiest country and has been such since 2017. Some other countries that topped the 2021/2020 list are Iceland, Denmark, Switzerland, and Netherland. The US and the UK ranked 14th and 18th, respectively. To measure happiness, the…

The prisoner’s dilemma is a paradox in decision analysis It shows that rational decisions do not always lead to optimal outcomes The prisoner’s dilemma can be avoided through laws and repeated interactions The prisoner’s dilemma is probably the most famous paradox studied in game theory. This paradox occurs when two…

Price discrimination is a pricing method where identical or similar products are sold at different prices There are three types of price discrimination: first, second, and third-degree discrimination AI makes price discrimination more efficient, but companies still stick to traditional methods Have you ever wondered why colleges have in-state and…

Collusions are more likely to occur in concentrated industries Price wars strengthen collusive agreements by reducing firms’ desire to “cheat” Companies may collude without interacting with each other directly A collusive agreement is an agreement between two or more firms to increase the price, decrease supply, or restrict each firm’s…