An aluminum-sided Ford F-150 truck at Ford Motor Co.’s Dearborn Truck Plant in Dearborn, Mich. People of modest means routinely spend $45,000 or more for a shiny new pickup. Is that rational? Often it is not, Ed Lotterman says, but rationality is just part of what drives human economic behavior. Consider Lotterman’s expensive ambitions for his new garden plot.
An aluminum-sided Ford F-150 truck at Ford Motor Co.’s Dearborn Truck Plant in Dearborn, Mich. People of modest means routinely spend $45,000 or more for a shiny new pickup. Is that rational? Often it is not, Ed Lotterman says, but rationality is just part of what drives human economic behavior. Consider Lotterman’s expensive ambitions for his new garden plot. Carlos Osorio AP
An aluminum-sided Ford F-150 truck at Ford Motor Co.’s Dearborn Truck Plant in Dearborn, Mich. People of modest means routinely spend $45,000 or more for a shiny new pickup. Is that rational? Often it is not, Ed Lotterman says, but rationality is just part of what drives human economic behavior. Consider Lotterman’s expensive ambitions for his new garden plot. Carlos Osorio AP

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April 17, 2017 4:55 PM

Me and my garden plot: a case study in an economist’s irrational behavior

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