Social Influences, Culture, & Information

Do we base our choices more on the people around us than on ourselves?
Maybe our choices aren’t based on any individual assessment of what’s rational or irrational, but on what people around us are doing, the environment we grew up in, and the amount of information that’s made available to us. Our religion, culture, and values all play a part in the decisions we make – to understand economic behaviour, we need to step back and explore those first.