Unformatted text preview: views as being against the agent’s interest. ±urthermore, economists are fully aware that almost all people, almost all the time, do not practice this kind of deliberation. Nevertheless, we Fnd the investigation of economic agents who follow the rational process to be important, since we often refer to rational decision making in life as an ideal process. It is mean-ingful to talk about the concept of “being good” even in a society where all people are evil; similarly, it is meaningful to talk about the concept of a “rational man” and about the interactions between rational economic agents even if all people systematically behave in a nonrational manner....
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This note was uploaded on 12/29/2011 for the course ECO 443 taught by Professor Aswa during the Fall '10 term at SUNY Stony Brook.
- Fall '10