link: http://bit.ly/1MOh07z
Hot And Trending...
Trending
- March report "How Revolutions, Wars and Plagues are Harbingers of 'Great Changes' in Societies and in Economics" published. http://bit.ly/2y4LJZQ
- Drop in Gold Output Expected as Mining Companies Lose Money @SchiffGold http://t.co/99AYQaC37g
- What Happened When One Company Set a Minimum Wage of $70,000
- The US Is Already in a Recession; Get Ready for Some Crazy Monetary Policy https://t.co/AEiTmQxmT7 @SchiffGold
- CEO who raised price of drug by 5000%
- Dow Jones down 6% from its highs & falling fast. How much more will it fall before the Fed stops pretending the data supports a rate hike?
- My speech at The Jackson Hole Summit last month. @SchiffGold http://t.co/AVPdZNaY5x
- 🔴 Ep. 315: 2017 GDP Growth Looks like Obama 2.0: http://bit.ly/2CRziVM via @YouTube
- The governor of Puerto Rico is asking for a $5 billion loan. But Puerto Rico already has over $70 billion in debt it can't repay!
- Question: If the Fed is about to interest raise rates how will they prevent the stock market from crashing? Answer: By not raising rates!
Friday, November 6, 2015
Do we incorporate the opportunity cost of considering options?
It seems to me that we take peoples' goals as given. That is, fundamental and unquestionable from our outside perspective. But do we assume that peoples' goals are also just given *to them*? That is, that they don't have to think about them? We know that subjective orderings change and we can all say we've experienced moments of uncertainty as to which option we want to take when making a choice, so that leads me to the conclusion that subjective orderings can enter states that maybe aren't perfectly ordered, specifically in cases of uncertainty and indifference. If people have to think about ends, then there's an opportunity cost to continuing to try to make an optimal decision. What's to say that incorrect choices aren't made in these cases? Does the theory as it currently exists deal with this problem? (If so, how?) Or does it open up a hole through which behaviorism can enter?