The only fundamental way to persuade users and buyers and prescribers of drugs to behave rationally is to charge them rational prices, prices that reflect the cost of making an additional pill for someone to buy.
The ideal energy policy, in fact, would include some ironclad rules and regulations, because people do not always respond rationally to prices.
But consumers cat rationally, when prices are down they buy.
To prevent either from being set freely by supply and demand is to block financial markets from pricing these risks rationally.
"This explains why bubbles and crashes are beyond the control of central banks," Dr. Coates said, and they should recognize that male traders simply don't respond rationally to their pricing signals.
Others argue that investors who saw that the market had gone daft may quite rationally have driven prices up further, believing they could get out faster at the peak than the greater fools who would buy shares from them.
If we all thought they were safe, we'd rationally bid up prices and make them expensive.
Others like Michael Jensen, a Harvard Business School disciple of Fama's, argued as did Fama that stock prices rationally reflected the future value of a company.
Alec Gutierrez, Kelley's senior market analyst of automotive insights, said consumers were reacting to gas prices more rationally than in 2008, when some hurriedly bought vehicles that turned out to be too small for their lifestyles.
"Responsive" EV agents are the ones that respond rationally to the virtual pricing signals, whereas "Unresponsive" EV agents define their charging schedule regardless the virtual cost.
