On a vacation to Cancun,Mexico,you find yourself eating every meal at the local McDonald's rather than having a hamburger from one of the street vendors.Your traveling companion claims that you are irrational,since you never eat McDonald's hamburgers when you are home and McDonald's hamburgers cost more than those prepared and sold by Cancun's street vendors.An economist would most likely explain your behavior by suggesting that

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The economist would suggest that you are choosing McDonald's over street vendors because of the consistency and perceived quality associated with the McDonald's brand name. This is a rational decision based on the information and options available to you.

On a Vacation to Cancun,Mexico,you Find Yourself Eating Every Meal