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by DanielleMolloy
2673 days ago
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A lot of our modern economy seems to be relying on human predisposition to addictions. Think sugar / carbs, alcohol, tobacco, certain games, news and social media and their recommendation engines. All exploiting similar neural pathways. |
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1) humans are not rational agents that always pursue their best interest
2) local optimization (what the market does) doesn't always lead to a global optimum
3) oftentimes the interest of investors and consumers diverge and the former have far more power (information asymmetry).