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The Compromise Effect. . . And the New Thinking About Money Is That Your Irrationality Is Predictable

Date: January 31, 2002
Author: Steven Pearlstein
QUOTE: Homo economicus is supposed to make intelligent, rational choices... Reality, of course, turns out to be quite different from theory. As economic actors, people are as likely to be governed by their emotions as by reason, by prejudices as by careful cost-benefit analysis.

ABSTRACT: It's long been known that consumers (people!) are not the rational decision-makers assumed by classical economics. This article is an entertaining write-up of some of the most interesting experiments done in this intersection of psychology, marketing, and economics. Recommended reading!

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Comments:

Missing Fulltext.

awaiting programming change (already Bugtracked).

-- D. Doernberg on September 06, 2006 05:20 PM (view details)

 
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