But when folks are hurting from job losses, and political sentiment militates against "outsiders," people stop acting rational.
The indulgence in throwback jerseys has something to do with the fiftieth anniversary of the A.F.L., or so they say; it stopped being rational a long time ago.
It assumes that any panic, any unreasonable movement in the market, will be stopped by rational buyers or sellers.
It assumes that any panic, any unreasonable movement in the market, will be stopped by rational buyers or sellers moving in and stopping it.
What's stopping more rational and empathetic people from just opting out of the entire system that is responsible for such products as the most obvious solution?
Introduced into the economics literature by Herbert Simon (1955), satisficing is the process of choosing in which it is rational to stop seeking alternatives when the agent finds one that is "good enough" (Byron 2004).
"There was no rational reason to raid the Stonewall Inn in 1969, and there is no rational reason to stop black and Latino men in 2012 and frisk them simply for being who they are," she said.
It's a rational decision to stop loving his parents — and if it takes a toll on Jonah we don't see it, because this is not his story.
But under those circumstances a rational firm will stop investing in cost-cutting measures at all, since the benefits will go not to it but to consumers, thanks to the steady ratcheting down of the price cap.
It's a rational decision to stop loving his parents—and if it takes a toll on Jonah we don't see it, because this is not his story.
