Thursday, July 7, 2011

the rationality assumption is just useful short hand

human units learn and developments lop off the most egregious sub maximizers
if you are doing simple comp stat modeling why not metaphor the deciders as rational
its only the acompanying story

the point is this
relying on irrational elements within the flocks of deciders  to counter an inner optimality course
as defined by a certain class economic  interest ... for a signifigantly  extended period is ....a bad bet

assuming rational units as agents is a short cut method

of course reifying that method annointing a class interest based rationality
    with global "rationality "24/7 365
 is just class pushed agit prop
and often transparently so
   and yet even at its most idiotic it serves a consolidating purpose
like doing your roasry as a hurricane approaches

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i hasten to add

the lop process that is market mechanics as mediated by existing institutiuons
not only lops off the most egregious sub maximizers but lots of other agents too

as w h auden sez of long term cultural retention of works by artists

nothing that is bad survives very long
 but  of course
 much good may well be lost  in   Clios ever finite  wake