Re:The Bias Bias in Behavioral Economics
by pdpi on Tuesday February 12, 2019 @07:16AM
(#19142874)
It's a global vs local thing.
The capacity to make rational decisions is a limited resource, so making locally slightly irrational decisions is, globally, the rational strategy. There's a number of predictable ways we make locally irrational decisions, though, and there's a lot of value to be extracted from studying those.
The capacity to make rational decisions is a limited resource, so making locally slightly irrational decisions is, globally, the rational strategy. There's a number of predictable ways we make locally irrational decisions, though, and there's a lot of value to be extracted from studying those.