Watch the following video on behavioral economics :

Questions:

A) Detail and describe a decision that you made in the past that contradicts the assumption of rationality in standard economic theory?  How and why was it irrational according to standard economic theory?

B) Explain in a brief paragraph how the empirical results from tests of the ultimatum game, which is covered in chapter 19,  challenges economist’s assumptions of rationality.

C) What is the minimum amount that a “rational” individual adhering to standard assumptions of rationality would accept as an offer in the ultimatum game.

In addition, it is required to reply to at least two other students’ posts by offering respectful suggestions, comments, or critiques related to the subject matter and their post.