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Dossier The Imperfect Role of Rationality

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    Dossier | N. 6 articoliEconomics on trial

    The Imperfect Role of Rationality

    Like the vast majority of econo¬mists, I was delighted to see Richard H. Thaler get the Nobel Prize in economics this year. Anyone with a bit of sense — a group that, believe it or not, includes many economists — knows that people aren't perfectly rational. But the assumption of hy¬perrationality still plays far too large a role in the field. And Mr. Thaler didn't just document deviations from...

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