Posted: July 8th, 2015

here is the link of the video: http://www.ted.com/talks/dan_ariely_asks_are_we_in_control_of_our_own_decisions here is the link of the article: http://www.econlib.org/library/Columns/y2006/Mungeropportunitycost.html

In this week’s readings (textbook and supplemental) you are introduced to the concept of economic rationality. It’s not, you’ll note, the same definition you’ll find in your law or philosophy class. Economic rationality has a particular meaning, and is used in understanding economic behavior and decision-making. I want to talk about what rationality means in the context of the Dan Ariely video (and I highly recommend reading the whole book (Links to an external site.)if you enjoyed this excerpt). For this week’s discussion, you are to: post your thoughts on the video and the article on opportunity cost, giving examples from the video and article to support your position give examples in real life where you think that people act in an irrational way and explain why you think it is that people make this seemingly irrational choice

here is the link of the video: http://www.ted.com/talks/dan_ariely_asks_are_we_in_control_of_our_own_decisions
here is the link of the article:
http://www.econlib.org/library/Columns/y2006/Mungeropportunitycost.html