I believe the irrational part is that the consumer would buy more meat depending of how scarce the information of scarcity was. For example, consumer overheard the butcher talk about meat being scarce so the consumer buys 8 times more instead of 4 times more (if the scarcity of meat was common knowledge).
Bovis,
I believe the irrational part is that the consumer would buy more meat depending of how scarce the information of scarcity was. For example, consumer overheard the butcher talk about meat being scarce so the consumer buys 8 times more instead of 4 times more (if the scarcity of meat was common knowledge).