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Or did economists know that people aren't rational actors, but lacking any better model, were simply unable to work without that assumption?
by leereeves 9y ago
Or did economists know that people aren't rational actors, but lacking any better model, were simply unable to work without that assumption?
- simonh 9y agoQuite. When all you have is a hammer... Its also a bit like inexperienced strategists mistaking the map for the terrain, and discounting actual reports from the field because they don't match what they expect from their model of the situation.