David likes new balance running shoes. however, when he stopped by the foot locker to buy a new pair of running shoes, he noticed that nike had a new pair of running shoes that cost $350. to david, the higher price of the nike shoe indicated that it would be a better pair of running shoes. this is an example of:

An irrational choice based upon David's "personal" lack of logical reasoning.

The field of Behavioral Economics is a combination of psychology and economics. This type of research shows that the rational decision making human, that traditional economics teaches about, is a rare exception. The typical human, David, is more likely to make emotional and irrational decisions based on wants vs needs and with no thought towards future financial consequences of these irrational choices.