[Cowen on rationality]

Tyler Cowen, a professor of economics at George Mason and a Volokh Conspiracy contributor, has produced a paper on “how economists use the rationality assumption”. I have only scanned it without reading, but I would already recommend it strongly to anyone interested in the basics of modern economic thought.

Poor rationality assumption! It has survived so many unfair attacks, mostly from those who have never quite grasped it.

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