Behavioral economists argue that individuals are not nearly as rational as many models of economics assume. In fact, they believe that individuals are quite influenced by emotions and values (which is not necessarily a bad thing).

Choose ONE of the discussion questions below for this unit’s discussion board forum and respond according to the discussion guidelines found in our syllabus. Please be sure to cite specific material from assigned readings and external, scholarly sources within your discussion posts: Behavioral economists argue that individuals are not nearly as rational as many models of economics assume. In fact, they believe that individuals are quite influenced by emotions and values (which is not necessarily a bad thing). When making decisions in organizations, how does one weigh the need for objective data (which can be time-consuming to collect) versus the efficient, yet potentially erroneous, use of one’s judgment? In other words, how do we decide when to delay an important decision in order to collect needed data (i.e., statistics) as opposed to just using our instincts? Review Case 7-1 The Bond Market on page 324 in Hanke & Wichern (2009). Share your perspective on the case in light of the assigned readings, addressing Question 1 in your response. Review Case 7-4 Fantasy Baseball (B) on page 334 in Hanke & Wichern (2009). Share your perspective on the case in light of the assigned readings, addressing Question 1 in your response.