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Dec. 20th, 2001 12:55 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
pluralTurns out the premise that consumers act rationally
long a mainstay of economic theory is bunk.
What consumers actually do, Rabin’s research revealed,
is pursue "immediate gratification" due to impatience and lack of self-control.
Berkeley economist Matthew Rabin
in a recent presentation at the London School of Economics.
long a mainstay of economic theory is bunk.
What consumers actually do, Rabin’s research revealed,
is pursue "immediate gratification" due to impatience and lack of self-control.
Berkeley economist Matthew Rabin
in a recent presentation at the London School of Economics.
