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Is it really? Or maybe the bullshit is the fundamental assumption of economics that you can understand human behavior by equating them to a set of agents maximi

Is it really? Or maybe the bullshit is the fundamental assumption of economics that you can understand human behavior by equating them to a set of agents maximizing some mythical utility function, and the temptation to see the world through those reductionist lenses. No, buying $2000 bottles of wine probably is not worth it in terms of maximizing any utility function, but i would argue it is precisely the point.

theorique 13y ago
No, buying $2000 bottles of wine probably is not worth it in terms of maximizing any utility function, but i would argue it is precisely the point. It maximizes the "Look at me, bitches - I'm so rich I can spend $2000 on wine" utility function.