Tuesday, August 03, 2010

Monkeys better than humans in economics?

Economics is not really a science, even though we all pretend that it is all scientific.  There are way too many factors, including one important aspect--that humans do not always behave rationally, while rational behavior is pretty much a fundamental assumption in modeling economics.
So, an interesting question then: how different from, or similar to, monkeys are we when it comes to (ir)rationality?  Take it away, Dr. Laurie Santos:

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