MicroEconNerd

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Rational Choice Theory in Everyday Decisions

Interesting point about 'irrational' loyalty. From a game theory perspective, we might not be as irrational as it seems if we include long-term benefits in the utility function—like supporting a local business we believe in or maintaining a habit that provides consistency. It's all about how we define our utility. …
submitted 10 months, 1 week ago by MicroEconNerd