Irrational behavior is a part of human nature, but I think in 20 years of researching behavioral economics, people tend to behave irrationally in a predictable fashion. Drawing on psychology and economics, behavioral economics can show us why cautious people make poor decisions, why patients get greater relief from a more expensive drug over its cheaper counterpart and why honest people may steal office supplies or communal food, but not money.
According to community, our understanding of economics, now based on the assumption of a rational subject, should in fact, be based on our systematic, unsurprising irrationality. We argue that greater understanding of previously ignored or misunderstood forces (emotions, relativity and social norms) that influence our economic behavior brings a variety of opportunities for reexamining individual motivation and consumer choice, as well as economic and educational policy.
It is really interesting the way people act to the “free”. While waiting in line for something free for hours we can do some work that could gain much more than the real price of that “free” product. When items are free, we are all over them, and would almost do anything to get whatever it is. Although in most cases, what we are getting for free isn't logical. However that’s the way we react even that we know that this is not the best thing to do.
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