In this video we are going to be covering the topic of choice theory, as we look at two different models to how agents make choices within an economic context. During the video we will be discussing the standard model of rational choice theory, we will look at its basic assumptions grounded in the idea of perfect information. We will then go on to talk about what happens when these assumptions break down and look at the alternative models that are coming out of behavioral economics as it presents us with a
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