Behavioral Economics, Ep 3: Why Do We Make Bad Choices?- Learn Liberty

from Learn Liberty

lass=”” >Why do we make bad choices? Learn more:

Making rational choices is expensive. It takes time and energy to collect the information necessary for rational thought, and it takes mental effort to apply rational thinking to the information we gather. For that reason, we occasionally use a different type of decision making all together. Professor Anthony Davies of Duquesne University and Erika Davies of George Washington University explain.


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Behavioral Economics (playlist): Heuristics, cognitive biases, public choice– oh my! Watch the entire series to learn more about behavioral economics at
Economics Made Easy (playlist): Want to learn more about how the economy works? Check out our playlist for videos on immigration, the minimum wage, and much more!…
Predictably Irrational (book): From drinking coffee to losing weight, from buying a car to choosing a romantic partner, we consistently overpay, underestimate, and procrastinate. Yet these misguided behaviors are neither random nor senseless. They’re systematic and predictable—making us predictably irrational.…

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