If you are like many people, you enjoy chocolate and eat it frequently. That’s okay, you might think. After all, chocolate has antioxidants and it boosts your mood. Although this may be true, it is not the real reason why you eat chocolate: it is just a line of reasoning you follow to feel less guilty about eating something high in fat and sugar. People often rationalize in this way, telling themselves stories of sometimes dubious merit to justify their behavior. A research at Northwest University shows how rationalization—once studied mainly in psychology—impacts choices and can help economists understand why people make decisions that violate standard economic theories…
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