A personal economic decision driven by a behavioral bias rather than pure rational behavior was moving back to California when I graduated from Arizona Christian University in 2018. This decision was motivated by a significant other rather than logic. By attempting to please the person, all rational decision-making went out the window. At the time Arizona's home prices were low and I was paying $600 a month for a one-bedroom apartment that was extremely nice and in a gated community. Behavioral economics is a "subfield of economics that focuses on the psychological, social, and emotional factors that influence decision-making". (https://www.youtube.com/watch?v=dqxQ3E1bubI) Also, behavioral economics deals with judgments and choices given by any set of circumstances. Knowing what I know now my decision-making would change dramatically. I learned that most of us are irrational when it comes down to rational decisions and this is because of the many factors that are at play when making a decision. In the spirit of decision-making and being able to understand human psychology, the big question is why is human behavior so unpredictable. According to research, people make decisions based on how things are priced, perception, and what an individual values over someone else. 

 

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