tag:blogger.com,1999:blog-5698599151422542939.post2923226073237023459..comments2023-09-21T05:14:00.254-04:00Comments on Euvoluntary Exchange: Cost, Choice, and HeuristicsMungowitzhttp://www.blogger.com/profile/02340064320347875601noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-5698599151422542939.post-43110690917294096202014-02-27T11:03:27.831-05:002014-02-27T11:03:27.831-05:00Ah---yeah, then I'm definitely with you. There...Ah---yeah, then I'm definitely with you. There is no instant, for nearly everything that matters. Even with small, low transaction cost things like mobile apps or MP3s, human beings are not pure on the spot impulse decision makers.Anonymoushttps://www.blogger.com/profile/16132674237614327721noreply@blogger.comtag:blogger.com,1999:blog-5698599151422542939.post-16392443525559394952014-02-27T10:54:13.706-05:002014-02-27T10:54:13.706-05:00I'll have to re-read it, but I think he went o...I'll have to re-read it, but I think he went out of his way to distinguish the decision from the exchange.Samuel Wilsonhttps://www.blogger.com/profile/16635024719984640919noreply@blogger.comtag:blogger.com,1999:blog-5698599151422542939.post-10645843325779132782014-02-27T10:45:54.002-05:002014-02-27T10:45:54.002-05:00This is like the behavioral equivalent of a ration...This is like the behavioral equivalent of a rational expectations response. People don't just incur costs at the moment of a decision. They spread the costs of a decision out over time, based on their expectations (rational or behavioral). One might even go so far to say that the decision itself is spread out over time, but I can imagine Buchanan replying that he's simply referring to the moment that the exchange is actually made.Anonymoushttps://www.blogger.com/profile/16132674237614327721noreply@blogger.comtag:blogger.com,1999:blog-5698599151422542939.post-2081786585979262642014-02-27T10:35:20.837-05:002014-02-27T10:35:20.837-05:00Sort of. I'm saying that decision isn't in...Sort of. I'm saying that decision isn't instantaneous. It moves from recognizing a want through an information-gathering process. Most of the time, this is comfortable and familiar. Occasionally it isn't.Samuel Wilsonhttps://www.blogger.com/profile/16635024719984640919noreply@blogger.comtag:blogger.com,1999:blog-5698599151422542939.post-12972464680477346052014-02-27T10:16:30.286-05:002014-02-27T10:16:30.286-05:00So is your critique of Buchanan that the cost is a...So is your critique of Buchanan that the cost is actually incurred before the time of decision, when heuristics are "invested in" so to speak?Anonymoushttps://www.blogger.com/profile/16132674237614327721noreply@blogger.com