Emotional influence is only one of the many ways in which humans act irrationally and unpredictably. Economic theory is predicated on the fact that people are “rational actors,” that we will always decide based on what is in our best interests. This is probably why economics is called the “dismal science” and why there is a saying that economists have as much effect on the economy as weather forecasters have on the weather. Humans often aren’t rational at all, not in groups and not individually.
