Macroeconomic Monitor
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2013.11.22

Guest article: Is man rational in economic models?

There is no topic that has generated as much controversy in economics as the "rationality" of economic agents. Critics of "homo- oeconomicus" deny both its existence and the ability of economics to explain real processes and phenomena. This is the so-called "bad input/bad output" problem, i.e. when you build a structure based on wrong assumptions, the results made ...

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