Question: Economists should consider several human behaviors when creating economic models. These include rationality, where individuals make decisions that maximize their personal benefit; influence from close

Economists should consider several human behaviors when creating economic models. These include rationality, where individuals make decisions that maximize their personal benefit; influence from close relationships, where people's decisions are often based on others' experiences; and confirmation bias, where people are reluctant to change their minds and interpret information to confirm their beliefs. These behaviors can help economists create more realistic and informative models for understanding and predicting economic events. Explanation: The summary provided encapsulates the main points of the original text. It mentions the three key behaviors that economists should consider when creating economic models: rationality, influence from close relationships, and confirmation bias. The summary also emphasizes the importance of these behaviors in creating more realistic and informative economic models. In your responses, comment on at least two of your peers' posts and share example of how non-rational human behavior can change an economic outcome

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