But not everyone values it for a dollar? People who don't buy burgers value them for less than a dollar,
Or they might not have the money to spare. Not all economic decisions are constrained by preference -- there is a real point in life, occupied by a great many people even in the US, where the desire for a McDonald's Cheeseburger is basically irrelevant to the fact that right now, you cannot afford it.
If you're in that position, you could also probably really use it right now (since you have to be pretty broke to not be able to throw a dollar for a cheeseburger whenever you want); it might be the only food you get all day. I daresay someone who cannot reliably purchase a McDonald's cheeseburger whenever they want to probably values it more, for its implication to their livelihood, than someone who has the money and eats lunch there every day.
Or they might not have the money to spare. Not all economic decisions are constrained by preference -- there is a real point in life, occupied by a great many people even in the US, where the desire for a McDonald's Cheeseburger is basically irrelevant to the fact that right now, you cannot afford it.
You don't seem to be using the word "preference" in the same way I am (or economists do).
If I have only $2, and so can't afford a $1 cheeseburger, then we say that I prefer $1 to a cheeseburger. You have a choice--either keep your $1, or get a che...
A article in the Atlantic, linked to by someone on the unofficial LW IRC channel caught my eye. Nothing all that new for LessWrong readers, but still it is good to see any mention of such biases in mainstream media.
I break here to comment that I don't see why we would expect this to be so given the reality of academia.