Breaking Down Decision-Making: An Economist's Journey

This chapter explores the early life experiences and academic challenges of a behavioral economist, highlighting his pivotal career choices influenced by family and education. Through personal anecdotes and discussions about the strange behaviors surrounding economic decision-making, the chapter critiques traditional economic theories and their assumptions about rationality and self-control. By examining individual perceptions of value and the implications of the sunk cost fallacy, the speaker sheds light on how contextual factors shape our choices.