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The Making of Behavourial Economics: Review of "Misbehaving" by Richard Thaler

Review  -  Charmaine Tan Huan Yuen

A pioneer’s account of the paradigm shift in economics offers compelling insights for the contemporary scholar and practitioner alike.

Krugman, Wolf and the Roots of the Financial Crisis

Review  -  He Ruimin

Review of Paul Krugman's The Return of Depression Economics and the Crisis of 2008 and Martin Wolf's Fixing Global Finance

Quality of Life in Singapore

Article  -  Tan Li San

Can Singapore become one of the world's most liveable cities in the 21st century?

Policymaking for Real People

Review  -  Tan Yeling

An understanding of how human biases affect economic decision-making can significantly improve the design of public policy. A new book authored by Singapore’s policymakers explains.

Using the Tax System to Create New Resources Out of Thin Air

Opinion  -  Robert H. Frank

Cornell Professor of Economics Robert Frank believes a progressive consumption tax could cut down wasteful competitive spending without compromising public resources.

Implications of Prospect Theory on Road Pricing

Article  -  Anthony T. H. Chin

While the economic costs of traffic congestion are well documented, the effectiveness of economic instruments, such as road pricing, in containing traffic congestion is less clear. Prospect Theory, a leading behavioural model in experimental economics, may explain inelastic driver behaviour in response to road pricing during peak hours. It may also shed light on the phenomenon of consumers who continue driving despite its higher economic cost relative to other modes of transport.

Opinion: The Environment as Capital

Opinion  -  Dodo J. Thampapillai

Following the 2006 Stern report, global warming, climate change and the scarcity of basic resources have become dominant themes in policy forums concerning sustainable development.

Auctions, Market Experiments and Public Policy

Interview  -  Bart Wilson, Stephen Rassenti, Vernon L. Smith

A discussion with Professors Vernon L. Smith, Stephen Rassenti and Bart Wilson

Opinion: The Singapore Model of Workfare: Three Suggestions

Opinion  -  Hoon Hian Teck

In a market economy, pay and volume of joblessness are jointly determined.

Editorial Issue 6

Editorial  -  Alvin Pang