Behavioral Economics and Information Asymmetry: For each of the following scenarios, explain the traditional economic prediction and why the behavior described is not consistent with those predictions.

• You really want to learn how to play the guitar, but you have been procrastinating for months.
• Choosing a school to attend based on the school's average test scores instead of value-add
• Applying for financial aid only after repeated text messages remind you to do so
• Only applying to the same colleges that your friends do