Why What Things Used to Be Ain't What They Used to Be

For economists, psychologists and other experts, the gulf between the public belief in Europe that the euro has sent prices up and official statistics that show it hasn't is providing a rich new area of research, inspring dozens of learned papers with titles such as "Expectancy Confirmation in Spite of Disconfirming Evidence."

Their conclusions tend to be quite similar. Public perceptions of the impact of the euro were skewed, they argue, because people noticed the rise in the cost of everyday items such as coffee and vegetables more than they noticed the declining costs of telephone calls, refrigerators...

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