In practice, the markets still work pretty great even without perfect rationality and information. Those are just assumptions for a mathematical model, not some

In practice, the markets still work pretty great even without perfect rationality and information. Those are just assumptions for a mathematical model, not something that must always be satisfied lest everything collapse. Econ classes will show you how things can break if these assumptions are not satisfied, but in actual practice, they don’t need to be satisfied perfectly in order for actual operations to match mathematical models very closely.