Got what I came for
March 25th, 2009The first sentence of Vernon Smith’s Rationality in Economics:
The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium state implied by economic theory, under information conditions far weaker than specified in the theory.
March 26th, 2009 at 4:34 am
[...] Vernon Smith. [...]
March 26th, 2009 at 9:03 pm
Yes, but should we take his word for it re: the broader interpretation? Here are some people expressing doubt
http://yetanothersheep.blogspot.com/2007/06/whats-rationality-got-to-do-with-it.html
March 27th, 2009 at 1:40 pm
Michael’s post is just weird.