lectur2-page17

lectur2-page17 - think twice or even three times before you...

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So what is the point of all this information. Well, you all are adults. Most of you are young adults, somewhere in the range of 18 to 20 years old. Most of you are not yet married, but may have a desire to go beyond platonic relationships. I am just trying to provide you with some economic information for you to base your choices upon. Rational adults process information and assess the costs and benefits of their actions while taking into consideration the probability of each alternative outcome from a decision. Think with your brain, not your hormones. Remember that alcohol and drugs distort the rational decision making process, so
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Unformatted text preview: think twice or even three times before you make a choice that may have very expensive consequences for all the persons that will be affected by the choice that you make. You choice you make, affects others (externalities). Remember we have only accounted for the monetary costs of this situation. There are costs that are difficult to quantify such as the psychic, emotional, and time costs that are endured by you and all the individuals affected by your decision. There are also psychic, emotional, and time benefits associated with having and raising children that an economist cannot quantify either. 17...
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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