Humans are irrational beings. Choices differ from person to person, and even from lab experiments to the real world. So, with all that differentiation, how can economists expect to understand how market forces will impact the decisions that individuals make? It turns out that most individuals go about making decisions the same way, but the results of these decisions vary wildly. Understanding and predicting those priorities, though, is a different story. Find out why with Nobel economists Gary Becker and Ronal Coase in the latest episode of the Free To Choose Media Podcast, Consumer Behavior.
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