I don't usually like Douthat, but this is an interesting argument.https://twitter.com/DouthatNYT/status/1070331810289201153 …
Contextually-mediated epiphenomena are where the novelty is, I think we've flogged individual marginal decisions half to death
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No, because until recently there were few ways to deal with incorrect models of the world in agents' heads. Economic theory is hard and goes far beyond equalizing marginal cost to marginal benefit. It's also incomplete, for that reason.
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