Week 5: Written assignment-

Economists, through understanding behavioral economics and irrational decision-making, can create significant social impacts by enabling healthier and more rational models for making choices.

Dan Ariely, notes that the awareness of our irrational tendencies in decision-making is a key component to building a more rational economic approach, both at the individual level and the societal level. Among his many examples, he pay particular attention to the countries with high participation in organ donor programs, and countries with low participation.

First, watch the video below Are We in Control of Our Decisions? Then write a 2-page response to the prompts below. Your paper should be in APA format, be sure to include title and reference pages.

1) Identify a common consumer decision you deem irrational or inefficient that negatively influences the decision-maker or society at large. Defend your reasoning using what you've learned in this chapter.

2) Suggest some changes to how consumers are prompted to make this decision that may potentially diminish the inefficiency of this transaction. Take into account the TED talk; consider how the presentation, description, or distribution of a good or service can substantially impact a consumer's decision.

Write a 2-page response to the prompts above. Your paper should be in APA format with at least 3 outside resources (cited). Be sure to include the title and reference pages