282 - They Thought We Were Ridiculous - Andy Luttrell
You Are Not So Smart
Challenging Economic Decision-making Norms
Anomalies in people's decisions challenged the conventional economic wisdom of rational decision-making. A decision to not risk driving in a blizzard, despite having paid for tickets, and coping with a camping trip in extreme heat rather than canceling it, demonstrated how individuals deviated from standard economic expectations. These anomalies collected by the professor highlighted scenarios where people acted differently from what traditional economics would predict.
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