|
|
 Originally Posted by MadMojoMonkey
I once told you a personal, first-hand story where I was definitely acting in a manner absolutely contrary to your economic definition of being a rational actor and you ignore it. The example was only economic in the sense that I wanted to do one thing, but did the exact opposite thing out of rote habit.
You (wuf) actively ignore data which contradicts your theories.
This is not common in economists I've been having conversations with. They are ready to explore the fuzzy boundaries of these statements you make, and I think you'll be a much more excellent economist when you see the fuzz, too.
What was the example?
I have declared many times that I think humans are deeply irrational.
It would be best if the term rationality was avoided entirely when it comes to economics. Arguments have been had on this forum because the term is confusing since it makes more common sense to think of it in terms of cognitive reasoning. Standard economics attempts to account for every decision regardless of how it is made. Economists chose the wrong word to describe this.
|
Reply With Quote