People tend to connect with others who are like them. Alumni from the same alma mater are more likely to collaborate over a research project together, or individuals with the same political beliefs are more likely to join the same political parties, attend rallies, and engage in online discussions. This sociology concept, called homophily, has […]
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Many employees believe their counterparts at other firms make less in salary than is actually the case — an assumption that costs them money, according to a study co-authored by MIT scholars. “Workers wrongly anchor their beliefs about outside options on their current wage,” says MIT economist Simon Jäger, co-author of a newly published paper […]
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