So, given a choice, the people in this video all select the chocolate over a bar of silver. Is this a rational decision? You can sense a couple of them assessing (and rationalising) the utility they will derive from the chocolate bar. Or was there something else at play here? Mark Dice, the guy in the video, clearly knew the silver was worth $150 USD and you can tell a few of those approached felt there was a catch and went for the recognisable choice. Did they just want to get away? Does the fact that it is a free gift still mean that asymmetric information plays a role? Did he lead them?
So, given a choice, the people in this video all select the chocolate over a bar of silver. Is this a rational decision? You can sense a couple of them assessing (and rationalising) the utility they will derive from the chocolate bar. Or was there something else at play here? Mark Dice, the guy in the video, clearly knew the silver was worth $150 USD and you can tell a few of those approached felt there was a catch and went for the recognisable choice. Did they just want to get away? Does the fact that it is a free gift still mean that asymmetric information plays a role? Did he lead them?
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