The Prospects for Homo economicus
A new fMRI study debunks the myth that
we are rational-utility money maximizers
Imagine that your child’s private school tuition bill of $20,000 is due and the only source you have for paying it is the sale of some of your stock holdings. Fortunately, you got in on the great Google godsend and purchased 100 shares at $200 each, for a total investment of $20,000, and the stock is now at $400 a share. (continue reading…)
behavioral economics, economics, game theory, psychology