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How does money affect our behavior?

 

Last updated 8/14/2008 at Noon



You just won four season tickets to the Chargers. You now hold in your little hands a windfall that may enable you to get braces for little Billy, new tires for the old truck or just some fun at several football games. Do you hold onto the tickets or sell them? How much could you get for them?

There is a school of economics called behavioral economics, and economists combine finance theory with psychology. They have come up with such insightful tidbits as noting that people often buy things they don’t need if the words “and get one free” are attached to the sale.

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