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Date: | Fri Mar 31 17:18:49 2006 |
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Doug MacKenzie disputes Gary Mongiovi claiming:
"If I'm hungry I buy food not an umbrella (and at the lowest price)."
but I don't believe him. Or rather I should say (since I don't know Doug and
I prefer to be polite), his preferences are bizarrely atypical for countries
which are well represented on the HES email discussion list.
What food has the lowest price these days where you live, Doug? Do you eat
it all the time? Most people who have the option, I think, prefer
variety and buy food that is not at the lowest possible price, at least not
all the time. Of the people who have choices, many even eat in restaurants
(which are far from the lowest price for food). French, Vietnamese, Italian,
Mexican and Thai are all quite popular where I live. Do you think that
people who eat in restaurants are irrational?
Assuming you are telling the truth and not confused, do you really seek out
the lowest priced food every day? Is it the same evey day where you live or
does it change? What on Earth do you even mean when you say you buy the
lowest price food? Dollars per calorie or dollars per nutient or something
else? If dollars per nutrient, whet system do you use for valuing one
nutrient or vitamin against another? Does your system, whatever it is,
reflect the advice of an expert or your personal preference?
Economists assume people are "rational" in the sense that they buy what
they want. No one disputes this, but it gives us no help in explaining their
behavior.
David Andrews
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