March says that when people make choices, they tend to rely on one of two basic models of decision making: the consequences model or the identity model. The consequences model is familiar to students of economics. It assumes that when we have a decision to make, we weigh the costs and benefits of our options and make the choice that maximizes our satisfaction. It’s a rational, analytical approach. This is the approach that Paul Butler knew would fail with St. Lucians, because there simply wasn’t a strong cost/benefit case for the parrot. In the identity model3 of decision making, we
...more