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"Limited rationality" not "highly irrational". The traditional economic view is people act in their own self-interest. I would summarize this research by sayin
by bluetwo 9y ago
"Limited rationality" not "highly irrational".
The traditional economic view is people act in their own self-interest. I would summarize this research by saying people act in their own perceived self-interest. Lots of times the two align, but there are cases when they don't, which I do find interesting and worthy of research.
- nickik 9y agoPoint taken. I think the research is very valid and interesting. I just question if this is most importent, or just a whats by far the most popular economics subject in the mainstream. Its a good PR move for the constent critics economics suffer from.