Context: I use this meme in an undergraduate exercise on probability weighting as a segue into Prospect Theory. I find it particularly fitting because it also symbolizes how some classical economists react to the insights contributed by behavioral economics.
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Tom Meme: Not Cooperating in a Sequential Game.
Context: I use this meme for an exercise in a bachelor-level course on sequential games to illustrate how this type of game can lead to pareto-inferior outcomes.
Bernie Meme: Is playing Powerball really worth it?
Context: I use this meme as an engaging opener for a bachelor-level microeconomics exercise on decision-making under uncertainty and risk. In that session, I explain the fundamentals of expected utility theory. Among other things, the students have to calculate the fair price of a German lottery ticket (6aus49). Since the German Lotto is comparable to Powerball, I’ve adjusted the meme slightly for my U.S. audience. 😉