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For one, the classical homo-economimus model of humans as rational utility maximizers is further called into question. While I wouldn't argue that humans are r
by randallsquared 16y ago
For one, the classical homo-economimus model of humans as rational utility maximizers is further called into question.
While I wouldn't argue that humans are rational utility maximizers, this result doesn't call that into question in and of itself: there could easily be utility functions which depend on relative status or position, rather than absolute material wealth.