We need to study consumer choices because they are one of the main parts of economics. You cannot have producers without consumers, and vice versa. By understanding why people behave the way they do, we as a society can minimize harmful actions and increase beneficial ones. Although people may not always be rational, economics only expects them to make rational economic choices. We want to maximize pleasure and minimize pain, and get the best deal for our dollar. I’d like to say that I am a frugal shopper, but I will spend more on a product if it saves me time and provides convenience. Which makes sense when you factor in opportunity costs.