Why do people usually buy eggs that cost the most?
Efficient market theory and classical economics sometimes seems bogus. What's that got to do with the price of eggs? An awful lot -- if people always acted rationally, they would buy eggs that cost the least per ounce, but people hardly ever do that. I know I do so, but I don't know of anyone else who does.
Does anybody here buy eggs the way I do? I always buy the eggs that are cheapest per ounce. A dozen small eggs weigh 18 ounces, medium -- 21, large --24, extra-large -- 27, jumbo --30. Usually at Trade Fair here in Queens, small eggs are cheapest, but sometimes Jumbo eggs cost less per ounce, and once a month, medium eggs are cheapest during a weekly sale.
BUT large eggs are the most popular, even though large eggs are usually the most expensive per ounce and NEVER on sale. If people act rationally, why do they usually buy the eggs that cost the most per ounce?
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