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Actually, I found it surprising because almost all theoretical economic models seem so divorced from reality that nothing ever works as you expect.
by apu 15y ago
Actually, I found it surprising because almost all theoretical economic models seem so divorced from reality that nothing ever works as you expect.
- chimeracoder 15y ago"All models are wrong, but some models are useful". Even though the axioms (assumptions) for rational choice are rarely met completely in practice, understanding their implications were they to be met is still highly useful.