Re:The Bias Bias in Behavioral Economics
by mcguire on Tuesday February 12, 2019 @12:36PM
(#19145606)
Is loss aversion rational? To an economist, no. To most seemingly rational people, apparently.
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Re:The Bias Bias in Behavioral Economics
by AstralStorm on Wednesday February 13, 2019 @01:41PM
(#19155485)
That is because economy did not allow for bounded rationality. They're talking about optimally rational with perfect knowledge. Also known as a spherical cow.
Ultimately, rational is supposed to mean reasoned, not optimal. Heuristics can be rational if applied with reason and devised with good valid reasoning.