3 ms·
Rationality and imperfect information are different things. Neither of which fit your example which is search cost. Not everyone knows a lot of things, it is i
by throwaway598 2y ago
Rationality and imperfect information are different things.
Neither of which fit your example which is search cost. Not everyone knows a lot of things, it is impossible to know everything. Therefore tradeoffs are made. Which is rational.