News for hackers. Stuff that matters.

A comment on How economics became a religion. Parent comment

Re:How economics became a religion by culturalzero on Sunday July 16, 2017 @08:22AM (#14781690)
The biggest problem I run into with this is that I believe the bounds of rationality for different individuals had far more variability than is accounted for. I suppose it's still useful to look at for a perspective on some things though
[ Parent | on HN ]
Re:How economics became a religion by nabla9 on Sunday July 16, 2017 @09:27AM (#14781892)
Economic models usually look at average behaviour for large groups. There are cases where the model breaks, but jumping into "oh, it was all bs then" is just populism.
[ Parent | on HN ]
Re:How economics became a religion by NhanH on Sunday July 16, 2017 @08:39AM (#14781741)
I know nothing of modern economics, but couldn't you just model the rationality of individual as a random variable like everything else?
[ Parent | on HN ]