Ze Xin Yuan - Economics Students Society of Australia

Ze Xin Yuan

Prospect theory and why you should quit playing Elo based games like overwatch

Import 2022-12-14 05:06

Prospect theory and why you should quit playing Elo based games like overwatch

What is an Elo based ranking system? The essence of Elo is that it ranks players by points based on games won and lost. After every game, the winning player takes the losing player’s points. The ranking is comparative; it represents how players fare against another player, and it

Avoid PROCRASTINATION and be PRODUCTIVE- Part 2

Avoid PROCRASTINATION and be PRODUCTIVE- Part 2

Procrastination has severe consequences for academic achievement.[1] 80%-95% of university students procrastinate, with 50% practising procrastination consistently and problematically.[2] I consider procrastination as one of the biggest enemies in life, as do some economists.[3] This article is written as a follow up to my first article

Avoid PROCRASTINATION and be PRODUCTIVE!

Import 2022-12-14 05:06

Avoid PROCRASTINATION and be PRODUCTIVE!

Last semester was a constant struggle for me. I’ve never found studying so hard throughout my degree. I hated studying online as I was procrastinating all the time. Recorded lectures and tutorials seemed long and impossible to finish. I need a change. Therefore, I have dedicated my procrastinations to

What is a fair allocation of ventilators?

Import 2022-12-14 05:06

What is a fair allocation of ventilators?

Why is this a problem? Whilst the majority of people who catch Covid-19 experience only mild symptoms, some patients do experience difficulties in breathing, and ventilators are a must to keep them alive. In many countries like the US, the demand for ventilators far exceeds the supply of them.[1]

Surely a well-researched, promising solution by economists would work in the real world, wouldn’t it?

behavioural economics

Surely a well-researched, promising solution by economists would work in the real world, wouldn’t it?

Experiments by economists are no longer an academic curiosum. Insights from experiments have been endorsed by policymakers over the years to support their policies as scientific evidence makes their policies more convincing to the public. However, that does not mean a policy that is backed up by experimental evidence will