The other day, Kato posted a link to a segment from a BBC documentary of some interest. Among the points in the segment was the thesis that the so-called invisible hand of an efficient market is invisible because it's not really there.
My colleague, Dan Arielly, who is a behavioral economist, has made quite a splash with his recent book on predictable irrationality.
According to the BBC segment, there are only three demographic groups who are rational: Economists, Game Theory Experts, and Psychopaths.
|