05 Jun Question Let’s discuss: Your thoughts on economic ir/rationality
QuestionQuestion
Let’s discuss: Your thoughts on economic ir/rationality
Let’s discuss: Your thoughts on economic ir/rationality
In this week’s readings (textbook and supplemental) you are introduced to the concept of economic rationality. It’s not, you’ll note, the same definition you’ll find in your law or philosophy class. Economic rationality has a particular meaning, and is used in understanding economic behavior and decision-making. I want to talk about what rationality means in the context of the Dan Ariely video (and I highly recommend reading the wholebook (Links to an external site.)if you enjoyed this excerpt).
For this week’s discussion, you are to:
· post your thoughts on the video and the article on opportunity cost, giving examples from the video and article to support your position
· give examples in real life where you think that people act in an irrational way and explain why you think it is that people make this seemingly irrational choice
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