Submitted By:Michael Ryan Moore, University of Pennsylvania, GSE
Date:November 4, 2011
Grade Level(s):9, 10, 11, 12
In this lesson, we will look at the role of cognitive biases in economic theory. Students will think about the concept of bounded rationality, looking specifically at their own heuristics and intuitions. In particular, we will look at confirmation bias, framing, anchoring and egocentrism.