3 ms·
> In traditional economics a rational actor will make decisions that maximize the SUM of the 1,000,000 rational actors money ??? Have you not heard of competit
by ulucs 6y ago
> In traditional economics a rational actor will make decisions that maximize the SUM of the 1,000,000 rational actors money
??? Have you not heard of competitive equilibria at all? Is game theory outside of the realm of traditional economics?
> Prospect theory for example is written off.
Yeah, it's so written off that the authors received the biggest award in economics for their works in behavioral economics.