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Rational choice theory …

from Lars Syll

In economics it is assumed that people make rational choices

  1. October 19, 2016 at 12:45 pm

    What irrational actions/thinking does the picture depict? Why would those using the escalator consider this decision rational?

  2. Paul Schächterle
    October 19, 2016 at 4:19 pm

    LOL :)

    • October 19, 2016 at 8:08 pm

      I’m interested in the evolution of rational, not it’s correctness or necessity. We use this term as if it sprang into existence with the universe. As if rational is easily identified and easily applied. History shows neither is the case.

  3. October 19, 2016 at 4:46 pm

    The bottom guy appears to be walking up the escalator. He must be thinking that getting to the fitness center is time wasted so he is trying to get there as fast as possible. How he is able to do all the calculations in his head, weighing the cost of extra time taking the stairs, but getting the extra exercise versus saving the time on the escalator but getting less exercise, surely must be proof that he (we?) really are rational, utility maximizing, calculating wizards, just like neoclassical economics says we are! To paraphrase a famous economist, “It is somehow utility maximizing and rational choice working its magic.”

    • October 19, 2016 at 8:05 pm

      Or maybe the guy just can’t stand to go left, on anything. So he always moves to the right. That’s neither rational (in the Enlightenment sense of rational) nor utility maximizing.

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