For about an hour each day, when you're in a good state of mind and fairly relaxed, walk yourself through all your symptoms and analyze both rational and irrational possibilities.
Rather than acknowledge the bubble and the market's bull-in-a-china-shop role in the economy, Mr. Greenspan spoke in 1996 of irrational exuberance as a possibility, but insisted thereafter that the market responded to the economy, not the other way around.
It was argued that financial innovation – manifested in the alphabet soup of derivatives and structured financial assets, such as MBS, CDO, and CDS – had vastly improved the ability of financial markets to "price" risk correctly, eliminating the possibility of irrational bubbles.
The stock market shuddered and dipped each time Trump edged closer to the Presidency, but after he was actually elected and gave a reassuring speech it held strong, and the talk from Wall Street was suddenly about the war on regulation to come, and not the possibility of irrational wars.
They must, in other words, look slightly irrational, unconcerned with the possibility of a regional war and its impact on oil prices, the world-economy and the Middle East's stability.
With this background in mind, I ask you, "Is it completely irrational to consider the possibility that Virginia's anti-miscegenation statute might pass constitutional muster by a bare majority the current members of the nation's highest court?" Well, in truth, the answer is probably "Yes".
The continual suppression of the connection between public will and public policy for years on end created an outcome that while not predictable, was always a possibility: the irrational election of a demagogue that opportunistically took advantage of — yes, racism lying in wait, but also — frustration with a dysfunctional, unresponsive system of civics.
Tammy Cleary, a mother of four and an informal neighborhood organizer, said if there was any fear, it had nothing to do with rampant crime, and everything to do with the possibility of one irrational person's criminal actions.
It seems that ruling out such a possibility is not irrational.
One has to balance a desire for near-optimal designs with the possibility of collecting irrational or inconsistent choices [17].
Still, it is compatible with the Dutch Book theorem that an incoherent agent could end up on the side of a sure gain, and so incoherence cannot be condemned as irrational simply by citing the possibility of sure losses.
