Objective
After completing this lesson teachers will be able to:
- Investigate how access to information can impact a person’s decision making.
- Explain how asymmetric information can affect someone’s fiduciary responsibility.
Standards
Concepts
Description
Teachers will play the roles of doctors and patients, demonstrating the motives of self-interest, duty, and character in economic transactions. By experiencing first-hand how the lack of asymmetric information can impact choice, teachers will then have the opportunity to see how new information would alter their decision making. After the role play, teachers will see how an ethical framework can impact decision making and have the opportunity to apply this learning across multiple professions.