Standard economic theory best fits with which of the following?
A) Unconscious processing
B) Motivated reasoning
C) Controlled processing
D) None of the above

Question

Quizplus · Accepted Answer

Standard economic theory assumes that individuals make rational decisions based on controlled processing, meaning they weigh the costs and benefits of their choices carefully and make decisions based on maximizing their own self-interest. Unconscious processing and motivated reasoning are more associated with behavioral economics, which goes against some of the principles of traditional economic theory.

Standard Economic Theory Best Fits with Which of the Following