Exact(4)
Alex Tabarrok explains how his ten-year-old is as rational as Gary Becker.
And within economics itself, we were keen to incorporate insights from recent research in "behavioral" economics – in other words, looking at how humans actually behave, with all our cognitive biases and failures, rather than how economists generally assume we behave, which is as rational, maximizing calculators.
I employ different models like QRE and levels of reasoning and conclude that overbidding can be explained as a rational response to the noisy environment in markets with human participants, that is, as rational decision making when anticipating others to make errors.
In this tale, secular violence is as rational as religious violence is irrational.
Similar(56)
If only European politicians were as rational.
The major test for playing good poker is to be as rational as possible.
You try to be as rational as you can be, but, well, it doesn't work.
There is no substitute for using our reason to the full, for being as rational as possible.
But the decisions investors make, in response, may not be as rational as they would like to believe.
"The rental car companies are being as rational and as intelligent as they can about pricing," said Henry H. Harteveldt, a senior analyst with Forrester Research Inc. of San Francisco.
If we believe our political opponents are as rational, thoughtful and empathic as we are, then we are likely to pursue political compromise through rational debate, civil discussion and collaborative analysis of the facts.
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