The night on which I went to see Borat with a group of friends featured lots of economic decisions. Mostly they were choices involving the balancing of risk and reward. First was how much to pay for parking at the parking garage. Do I underestimate the length of my stay and incur the risk of a ticket, or do I overestimate and risk wasting $0.50? Let's be realistic, there's no way to pay exactly the right amount. That night I decided to pay the extra $0.50 for the extra hour. What was ironic was that after I met up with my friends, I learned that some had only paid for one hour of parking because "they never check." Oh. How silly of me.
Another decision that was made soon afterwards was where to eat. One person seemed set on Legal Seafoods; this is understandable, given that Legal Seafoods is fantastic. However, we had to make a 7:40 movie (that was sold out), and it was 6:45. There was a Famiglia Pizza across the street - much faster, and quite good. However, the draw of Legal Seafoods was too much; we had clam chowder and then sprinted to the theater, where we found seats together - in the second row, on the right side, in an area from which the screen looks a bit distorted. The risk we had taken turned out to be an actual cost, but in my mind the reward outweighed the terrible seats. We still had a good time. Of course, had I received a parking ticket, the night would have been much worse.
-Kunal
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