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Microprinciples
Your wallet doesn't know the difference

Your wallet doesn't know the difference

You're not always rational about money

V Sri's avatar
V Sri
Apr 05, 2023
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Microprinciples
Microprinciples
Your wallet doesn't know the difference
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The purely economic man is indeed close to being a social moron. Economic theory has been much preoccupied with this rational fool.
–Richard Thaler

Would you drive across town to save $50 on a brand new car valued at $10,000? Probably not. Would you drive the exact same distance to save $50 on groceries valued at $100? Probably.

But why?

You might reason t…

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