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Agreed - "economic rationality" is an extremely narrow concept. As an example, it's "rational" to buy yourself a car or an ice cream cone, because you get utili
by billybob 16y ago
Agreed - "economic rationality" is an extremely narrow concept. As an example, it's "rational" to buy yourself a car or an ice cream cone, because you get utility or enjoyment out of it. It's "irrational" to give money to others, because... you don't get enjoyment out of it? Wait, what if you do? A giant problem with the definition, methinks.
- jbooth 16y agoYeah, then there's the fact that approximately 0 people on earth conform to the expectation of economic rationality. "Hey, it looked like it'd work on the chart!"