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Funny the title calls economics. But the textbook economics with its utility maximizing rational agents is utterly incapable even accepting the existence of thi
by beefield 8y ago
Funny the title calls economics. But the textbook economics with its utility maximizing rational agents is utterly incapable even accepting the existence of this kind of phenomena, much less analyzing...
- chippy 8y agowould it be under game theory?
- Matticus_Rex 8y agoThere are papers modeling it in game theory, but you'll spend a lot of time on this in advanced micro, any behavioral or price economics classes, and any applied econ classes. The mythical textbook econ he's talking about is a meme.
- Matticus_Rex 8y agoAh, the mythical caricature textbook economics that hasn't integrated bounded rationality or behavioral economics. Funny how I only find that in internet comments and not actual classrooms past 101 (which is too basic to get into this).
- beefield 8y agoI may be too cynical, but I assume most MBA curricula do not contain bounded rationality ot behavioral economics at least as obligatory subject, but are happily restricting themselves to the world view of 101.
- Matticus_Rex 8y agoBusiness programs LOVE behavioral econ. You get Nudge and cognitive bias stuff starting in undergrad business classes. And other than the econ classes, business classes aren't modeling behavior or doing much theory work, so they aren't making assumptions like rationality.
- beefield 8y agoActually my comments were not that well thought from the beginning...