As you journey through life will you be rational or irrational as you make decisions? What about those around you? This will be an opportunity to analyze how rational or irrational individuals act when faced with a specific behavioral economics experiment. This session the High School Eagles will be exploring the world of Behavioral Economics.
Since the time of Adam Smith, the Science of Economics begins with the premise that an economic man is a rational creature who makes rational decisions. But, what we have discovered over time is that we are not. This session is built to explore how and when we typically make irrational decisions. They will do experiments all session to explore concepts such as: Halo Effect, Aversion Loss, Relative Value, and many many more. The goal of this is to help Eagles recognize their possible irrational errors, possibly use others’ irrational behaviors to persuade them, and ultimately to be fully aware of the decisions they are making without unintentional influence. Their writer’s workshop will be to create a Behavioral Experiment Writeup according to APA, American Psychological Association, standards to summarize their “big” experiment.
