Learning Is The First Step
In continuation of a previous article, this article lists a few more thoughts on rational actor theory. I think there are mainly 3 comparative economic understandings of rationality and irrationality: For Austrians and similar theorists, rationality is tautologically true. The fact that people do not have perfect information is not taken as a component of … Read more
1/26 was my first class with Professor/Dr. Pete Leeson. He seems to be very intelligent and also personable, but by nature of man and blogs I am choosing to write about some things he said with which I disagree rather than all of the things he said with which I strongly agree. The things he … Read more
This article provides two Ideological Turing exercises: One argument in defense of hard-line Chicago rationality and one in defense of the existence of economic irrationality. I don’t think Gary Becker or any of the big Chicago names (eg Friedman) ever firmly stated that individuals are rational (quick proof and another one), but let’s suppose that … Read more