Real life isn't Econ 101. However: I can trust someone who can explain the Econ 101 analysis when they go on to say "and here's why that doesn't apply here". I can't trust someone who can't, or won't, explain the Econ 101 analysis at all.
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Good to know... why? People often behave in ways that are quite different than a theoretical utility function might assume that they do.
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> it really isn't a reliable base I suggest that it is very reliable and explains 99% of what we see. The fact that it's not PERFECT doesn't mean that it's not reliable.
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