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If only that could be true. Economics would be more simple, and maybe actually a science. Modern economics is nearly entirely how to deal with the fact that ind
by mijamo 3y ago
If only that could be true. Economics would be more simple, and maybe actually a science.
Modern economics is nearly entirely how to deal with the fact that individual actors are indeed not rational according to the traditional definition of the term. Which is why advertising works so well.
- olalonde 3y agoIt's a model that mostly reflects reality. I find the alternative much more unbelievable (e.g. that this trend is the result of general ignorance and dumbness). It's simply more likely that your personal preference simply isn't shared by the majority.