Teaching the Use of Cost-Benefit Reasoning in Everyday Life

Journal Article (Journal Article)

Our research shows that people can apply the cost-benefit rules of microeconomic theory to their everyday decisions. Two populations were examined: (a) people who had previously received extensive formal training in the rules and (b) naive subjects who were randomly assigned to receive brief training in the rules. Training affected reasoning and reported behavior in both populations. The results indicate that extremely general rules govern choices across a wide range of domains and that use of the cost-benefit rules can be improved through training. © 1990, Association for Psychological Science. All rights reserved.

Full Text

Duke Authors

Cited Authors

  • Larrick, RP; Morgan, JN; Nisbett, RE

Published Date

  • January 1, 1990

Published In

Volume / Issue

  • 1 / 6

Start / End Page

  • 362 - 370

Electronic International Standard Serial Number (EISSN)

  • 1467-9280

International Standard Serial Number (ISSN)

  • 0956-7976

Digital Object Identifier (DOI)

  • 10.1111/j.1467-9280.1990.tb00243.x

Citation Source

  • Scopus