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Elton John

What is the difference between 'perceived benefits' and 'actual benefits' in economics?

My lecturer talked about it today, but I didn't understand what he was saying about it. Thanks.

Example: "The key to decision making is not the actual fungibility of risks and benefits, but the perceived risks and benefits. Thus, an individual decides based on whether he or she perceives personal benefits from an activity, not whether actual benefits accrue."

Actual benefits can be statistics.
Perceived benefits can be peoples beliefs that can carry more weight in decision making.

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