When prices go up, buyers want less and sellers want more. But how much more? Economists Betsey Stevenson and Justin Wolfers discuss how responsive people are to&nbsp;price changes, and why.Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.

S E12: When Governments Intervene - Taxes, Price & Quantity Regulations

Think Like an Economist and you’ll see the world more clearly, empowering you to make better decisions at work, at home, and in your community. Leading economists Betsey Stevenson and Justin Wolfers will take you on a joyous romp through their field as they introduce you to the big ideas in economics, and show how you can apply them to live in your own life. Their signature approach reveals that every decision is an economic decision and this podcast uncovers the economic forces that shape the world around you. Betsey and Justin believe that economics is a superpower, and they want to teach you to fly.