What Is a Good Decision?
Lecture no. 1 from the course: Behavioral Economics: When Psychology and Economics Collide
Taught by Professor Scott Huettel | 32 min | Categories: The Great Courses Plus Online Economics & Finance Courses
Begin by examining “rational choice” models of decision making from traditional economics, which assume consistent, foresighted, and self-interested decision makers. Then consider how this concept fails to explain many human decisions that appear counterintuitive or paradoxical. Identify two fundamental limitations that challenge our decision-making process.