Society, Politics & Law
60 second adventures in economics: Rational Choice Theory
...think they know all the facts, or maybe the facts are just too complicated And sometimes people just decide to follow the crowd, relying on others to know what they’re doing. When too many cheap mortgages were being sold in 2007 – a lot of people didn’t know what was going on. And a lot of others just followed the crowd. Some lenders may have rationally believed...