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Again, Mario found two euro bills on the ground but, when he arrived home, he discovered he had lost one. The net result is however that Mario has euros more. Starting from this observation, according to conventional economic theory the level of utility and satisfaction that Mario derives from the walk should be the same that he would have if he had found a single euro banknote without losing it . He should therefore still be happy. But is it really like that? No, at least for Mario, who indulged in some insults towards himself for having lost of the euros.

That he had just found and which had already become his point of reference. But there is an example that is normally very illustrative of the principle of relativism for behavioral economics, where we can all find ourselves very well. Now imagine seo expater bangladesh ltd you have to buy a pen. When we arrive at the shop, we see one we like on sale for euros. We are about to buy it, when we remember having seen the same pen on sale for euros in another shop about meters away. Of course we go out, and gladly walk meters more to save euros. Behavioral economics- The next day we have to make a more demanding purchase an elegant suit for work.



In a shopping center we find exactly the blue suit we have in mind, but for euros. After all, we know that you pay for quality. But as we go to try on the dress, we remember that the same dress was on sale for euros in a large outlet just meters away. We are likely to say to ourselves “What do you want a saving of euros on an expense of euros to be?” and that we will decide not to go the extra meters that would be needed to save money. Strange? In a certain way, yes.