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Michael Pokrovski

added blog Decision Making and Problem Solving
2026-06-08 18:54:43 -

How is behavioral economics different from traditional economics?
How Is Behavioral Economics Different From Traditional Economics? The Question That Split Economics in Two Imagine two economists observing the same scene. A shopper enters a store intending to buy toothpaste. Ten minutes later, she leaves with scented candles, gourmet chocolate, and a kitchen gadget she had never considered purchasing before entering. The first economist shrugs. The...

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Leonard Pokrovski

added blog Economics
2026-06-06 16:57:11 -

What are global stock markets?
What Are Global Stock Markets? The Most Misunderstood Machine in the World Walk down any city street and ask ten people what the stock market is. You’ll hear a remarkable collection of answers. A casino. A place where rich people get richer. A giant computer moving money around. A daily scoreboard for the economy. Pieces of those answers contain some truth. Most miss the larger...

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Leonard Pokrovski

added blog Economics
2026-06-01 19:57:23 -

What are the characteristics of free enterprise?
What Are the Characteristics of Free Enterprise? The Most Misunderstood Force in Economic Life Walk into any neighborhood in America and look around. The coffee shop owner unlocking the door before sunrise. The contractor bidding against three competitors for a renovation project. The teenager selling handmade products online. The entrepreneur risking her savings on an idea nobody else...

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Michael Pokrovski

added blog Decision Making and Problem Solving
2026-06-08 18:57:16 -

Why do people make irrational decisions?
Why Do People Make Irrational Decisions? The Puzzle Hidden in Ordinary Choices A man drives across town to save $20 on a household appliance worth $100. The next day, he declines to drive the same distance to save $20 on a refrigerator worth $2,000. The amount saved is identical. The effort required is identical. Yet the decision changes. Most people immediately understand why. And that...

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