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Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics (in English)
V. Raghunathan
(Author)
·
India Penguin
· Paperback
Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics (in English) - Raghunathan, V.
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Synopsis "Irrationally Rational: Ten Nobel Laureates Script the Story of Behavioural Economics (in English)"
You and your friend each have flights to catch at 8 p.m. and your destination cities are different. You decide to share a cab, but get caught in a rare traffic jam lasting several hours. You end up at the airport around midnight, and surely enough, both of you miss your flights. All quantifiable consequences of missing the flights-cost of tickets cancellation, paying for a new ticket, taking a cab back to the city, overnight stay, taking a cab back to the airport next morning, etc.-are expectedly identical for both. Now suppose the airline assistant tells you, 'Sorry, your flight left as scheduled at 8 p.m. sharp.' But your friend is told, 'Oh, how very unfortunate. Your flight was almost four hours late and only just departed!' Who feels the greater disappointment? You or your friend?
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The book is written in English.
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