&gt;Maybe everyone complains about bad behaviour of their insurance company, but that does not mean they&#x27;ll take a higher premium<p>Exactly.<p>&gt;There&#x27;s something here about &quot;consumer&quot; psychology and choices that is hard to capture in the concrete terms economists like to formalize using.<p>That some&#x2F;most economists like to use. There is a huge field in economics (and econophysics and stuff) that focused on actual irrational behaviour (like trend-following, trying to time the market, predicting the &#x27;mood&#x27; of the market). I find this a very interesting field of study. My god the rational agent model is so bloody stupid but it makes calculations feasible, that&#x27;s literally the only reason we use it nowadays ...<p>There is one thing you can&#x27;t buy. You can&#x27;t buy love*<p>* with exceptions of course