EWOT #8

My EWOT for this week is about something that happened in lecture. Professor Rizzo had the door open to outside to get some cool air flowing through the class, and some girl asked him if he could close the door. Rizzo did, and in doing so made a bad economic decision. By closing the door, he was not acting in his own self interest because he personally wanted the door open. Also, this girl may have been the only person in the class that wanted the the door open, so the other hundred students would be affected negatively for one person's benefit. This is like Rizzo's bus example where a bus driver shouldn't wait for Rizzo at the bus stop because he doesn't have enough knowledge of the other people on the bus to know if it would be economical to wait the extra minute for Rizzo to get to the bus. What Rizzo should have done was taken a quick class survey to see what he should have done with keeping the door open or not. Though this would take time, it would teach the class a lesson and prove the point that when once acts in their own self interest, it is for the better of the economy.