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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Replying to @renormalized @MorlockP
Econ 101 is interesting and useful in some different ways, but it really isn't a reliable base. The core issue is that it postulates that things will occur because rational people will act in a certain way, rather than relying on evidence for how people actually act.
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Replying to @MorlockP @renormalized
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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Replying to @SaysSimulation @renormalized
> 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.
12:08 PM - 11 Feb 2021
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