Economics

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Image courtesy of Flickr user Sjors Provoost

How to Win a Price War

There are usually no winners in price wars. But under the right circumstances, it’s possible to win a price war by leveraging a specific set of strategic capabilities. These include the ability to read how things are changing, the skills to analyze data to identify trends and opportunities and the wherewithal to implement organizational changes both internally and across the value chain. Albert Heijn, a Dutch grocer, started and won a price war through its strategic capabilities and skills.

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“Let Me Come Right Out and Say It: You Cheat”

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  • Read Time: 3 min 

”As long as we cheat by only a little bit, we can benefit from cheating and still view ourselves as marvelous human beings,” writes behavioral economist Dan Ariely in his new book “The (Honest) Truth About Dishonesty: How We Lie To Everyone — Especially Ourselves.”

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BBC Web Game Lets You Feel Full Force of Political Decisions

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The BBC’s free web-based game Climate Challenge lets you to take a shot at cutting down on green house gases while growing the economy, staying on budget, and keeping the public happy. Play it too aggressively and you’ll get voted out of office. You may even be told, “You were a deeply unpopular leader who cared nothing for the happiness of the population.”

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Must Economic Forecasts Always Fail?

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How can managers better understand the problems inherent in economic forecasting and still make reasonable projections for their companies? In the recent article “Why Forecasts Fail. What to Do Instead,” the authors advise that managers first accept that they’re operating with uncertainty.

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Hundreds of Gallons of Water in Every Shirt

A founder of the MIT Sloan School of Management’s Sustainability Lab talks about how businesses and governments have to surmount social issues as well as economic ones if they are serious about sustainability.

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Reallocating Wall Street Talent

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“Highly skilled labor should be reallocated away from the financial industry towards more innovative sectors” of the economy, writes MIT economist Daron Acemoglu in a new essay.

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