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 Originally Posted by wufwugy
If we assume that people don't maximize their utility, then, well, I don't know what happens to economics. The field probably becomes nonsensical.
Wow. This might actually be the fundamental reason that economics seems so unrefined to me.
I can think of dozens of examples of people NOT acting to maximize their utility right off the top of my head. (Or maybe I still don't understand your notion of utility.)
In science, if even 1 counter-example can be shown, then the assertion is false. It is discarded and sometimes replaced with a new idea.
OK.
So explain suicide to me. How is this a maximization of utility?
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