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Every economist knows homo economicus is an approximation to reality. Large amounts of economics is about mathematically modelling deviations from it and then c
by yummyfajitas 10y ago
Every economist knows homo economicus is an approximation to reality. Large amounts of economics is about mathematically modelling deviations from it and then checking the results against data.
I feel like you are criticizing some "econ 101" straw man.
If you can find violations of transitivity that apply in aggregate (rather than just to one guy being in a funny mood one time), congrats! Now go figure out how to exploit this money pump to become rich.