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Irrationally Rational : Ten Nobel Laureates Script the Story of Behavioural Economics, Paperback / softback Book

Irrationally Rational : Ten Nobel Laureates Script the Story of Behavioural Economics Paperback / softback

Paperback / softback

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You and your friend each have flights to catch at 8 p.m. and your destination cities are different. You decide to share a cab, but get caught in a rare traffic jam lasting several hours.

You end up at the airport around midnight, and surely enough, both of you miss your flights.

All quantifiable consequences of missing the flights-cost of tickets cancellation, paying for a new ticket, taking a cab back to the city, overnight stay, taking a cab back to the airport next morning, etc.-are expectedly identical for both.

Now suppose the airline assistant tells you, 'Sorry, your flight left as scheduled at 8 p.m. sharp.' But your friend is told, 'Oh, how very unfortunate.

Your flight was almost four hours late and only just departed!' Who feels the greater disappointment?

You or your friend?

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