Information Aggregation: the Key to Rational Decisions

Leiderdorp, a.d. XVI Kal. Sep. MMDCCLXVIII A.U.C., One of the basic assumptions many economists make, is that people are rational (Definition Rationality). By this they mean that people act in their self-interest, in a reasonable way. This could be their very narrow self-interest, say an employer who pays the lowest possible wage to his employees, but... Continue Reading →

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