4 ms·

I wouldn't go so far, but I did always think it was funny economist like to stipulate how markets work with "rational actors", failing to acknowledge just how m

• Nasrudith 5y ago
  Rational actors can still be deceived or wrong. It doesn't cease to make them rational to think smoke coming from the hills means a fire. It also explains how price manipulation techniques can work, such rising prices causing people to rush out and buy before it rises further. More reasons why false advertising is an offense along with the fights sparked by pissed off customers and fraud adjacency. Beating up on rational actors on is a pretty tired take akin to deriding psychiatry because of Freud's Oedipus Complex. Which is ignoring the contextually it made sense with what we now know as Westermarcke effect combined with the norms of his time. His privledged son clients, being upper class were raised by nannies as the norm. Now put yourself in the proverbial Oedipus's shoes and imagine richer person who rules over you and directs your life direction and has sex with a hot woman you are attracted to. Sounds understandable except that they are your father and mother. With the lack of bonding in the life style it is both more consistent with modern proven effects and showing how society's twisted norms deeply screwed people up.