The Economics of Inaction

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Focusing on the phenomenon of "lumpy" behavior in economics, the book explores how fixed costs lead to infrequent actions and significant adjustments when they do occur. It highlights the increasing interest in economic models that reflect this behavior, drawing on evidence from various critical decision-making areas such as price setting, investment, hiring, and portfolio management. The insights aim to deepen understanding of the complexities in economic behavior and decision-making processes.