Lee (2015) discusses departures from rational choice in our final textbook chapter.I thought for this final course
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Question:
Lee (2015) discusses departures from rational choice in our final textbook chapter.I thought for this final course assignment, we'd take a look at our individual rationality and related behaviors in order to determine howyour personal decisions may (or may not) beaffected by externalities.
Specifically, discuss personal examples in your academic and/or professional career that fall into the following behavioral economic departures from rationality:
- Framing
- Sunk costs
- Status quo bias
- Overconfidence
- Impatience
- Fairness
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