"Fully rational" in this case means "want to sell high and buy low". It's a very low bar to clear, especially in the job market for PhDs. >Record companies hav

"Fully rational" in this case means "want to sell high and buy low". It's a very low bar to clear, especially in the job market for PhDs. >Record companies have been treating musicians like crap for at least a lifetime now, and there are still people dreaming of record contracts. If I understood you correctly, you are implying that musicians have better options than signing with labels and are acting irrationally by doing so? I disagree.