WDW101Y1 Lecture 3: week 3 part 2.doc

Do the three assumptions of human behavior seem realistic to you?

1) Do you consider yourself rational?

2) Do you respond to incentives?

3) Do you make choices on the margin?

Identify a personal economic decision that was driven by a behavioural bias rather than by pure rational behaviour. Given your understanding of behavioural economics, how would your decision differ today?

If the human genome is the starting point for understanding theprocess by which a human is "constructed", then why is the human"proteome" the next logical step in understanding humanphysiology?

Please be clear and concise.