This is very unsatisfactory, Muth (1961) argued, because it is diametrically opposed to the way economists model human behaviour in other branches of economics. There, the notion of rational decision making (subject to constraints)

occupies centre stage, and this does not appear to be the case under the AEH. As a result, Muth proposed that: "expectations, since they are informed predictions of future events, are essentially the same as the predictions of the relevant economic theory" (1961, p. 316).