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Applying Economics: Gas Prices

Words can­not express my dis­may at the recent Wash­ing­ton Post-ABC News poll results: I had hoped to write a blog post about gas prices and the lack of changes to the nation’s con­sump­tion habits. I had men­tal­ly penned para­graphs about price inelas­tic­i­ty, “men­tal account­ing”, and oth­er eco­nom­ic and behav­iour­al psy­chol­o­gy topics.

Bol­locks.