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Conventional economics assumes that individuals are mostly rational. That is, they do they best they can with the available resources and knowledge to achieve their
Conventional economics assumes that individuals are mostly rational. That is, they do they best they can with the available resources and knowledge to achieve their goals. Behavioral economists have called into question these assumptions. Is the conventional starting point of rational choice still relevant? How do institutional features (firm management incentives, legal incentives, etc...) the degree of "rationality" observed by economists?
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