ECN 601 Grand Canyon University Rational Behavior Economics Discussion

Description

Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today?

Submitted on:

Aug 31, 2023, 4:29 PM

Daniel Burnes

Sep 2, 2023, 6:05 PM

A personal Economic decision that I made was driven by a behavioral Bias rather than pure rational behavior was investing a company called world Ventures. I chose to invest in this “company” because I was fooled into thinking that it was legit. I saw what everyone had accomplished and heard their stories. What I didn’t choose to hear at the time was all the “requirements” that were needed to achieve what had. For instance, I had to try and convince 4 other people that what I was a part of meant something. Looking back if I was given that “Opportunity” to do it again; I would not do it. This is because I have seen what has became of this company/scheme and I have a better understanding of the financial aspects of it.

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