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by RandomLensman
14 days ago
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Revealed preference isn't about no choice (or oddly forced), but rational choices and my point is that we don't know how much here is "no choice" vs "rational choice". It is not a revealed choice for most people not to have a super yacht - they just do not get to make that choice. People with a lot of degress of freedom (wealth) seem to be doing ok with choosing actual physical relationships, marriages, etc. - why is that? (About 80+% of the richest 100 people are married, for example, and they tend to have quite a few children, too)? |
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