One of the top experts in the field of behavioral economics is Dan Ariely of Duke University. You can watch Dan explain behavioral economics at:

Are we in control of our decisions? | Dan Ariely(Links to an external site.)https://www.youtube.com/watch?v=9X68dm92HVI- video link

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Ibelieve you will be especially interested in his talk if you are single as he does provide dating advice along with providing a clear difference between the rational consumer and the behavioral economics view.For this week's discussion answer ONE of the two questions below:

1. Find the definition of 'relativity theory in behavioral economics'(not the Einstein theory!) and post a short summary with a link to your reference. Watch the above video from the 12:30 minute period forward and explain how relativity theory plays out in Dan's example with Economist magazine. Finally provide an example from your life where you have seen relativity theory in the market place and why you believe it is relativity theory at work.

OR

2. Go to Dan's blog:http://danariely.com/resources/the-blog/(Links to an external site.)

and quickly summarize one of the stories/posts and relate the phenomena to one of the parts of Prospect Theory from the text along with explaining how the outcomes differ from what would be the actions of a rational consumer/person. Parts of Prospect Theory include mental accounting, endowment effect, anchoring, and so on. Make sure you explain the 'why' of the relationship between your example and the part of Prospect Theory.Provide a link back to the specific post.