QUESTION:Marie was shopping for a brown wool sweater, and she found the item at a store which originally sold it for $180 but placed it on sale for $80.Mary had been shopping around and realized that a sweater of this quality could not be bought for less than $90. Many other consumers also took advantage of the sale and bought the sweater.

Joan, a student studying economics concluded that all the people who bought the brown wool sweater for the sale price purchased it because they had the same utility. Robert, Joan's classmate, said that the reason consumers bought the sweater on sale had more to do with behavioral economics.Who do you agree with? Explain why.