An opinion column in the Washington Post observes that: No rational person would go to the gym

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An opinion column in the Washington Post observes that: “No ‘rational’ person would go to the gym merely because they had purchased a nonrefundable membership. But real people do precisely that.”
a. Why did the author put the word rational in quotation marks?
b. Briefly explain which error in decision making the people who “do precisely that” are making.

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Macroeconomics

ISBN: 9780135801741

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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