Rational maximization should not be confused with conscious calculation. Economics is not a theory about consciousness. Behavior is rational when it conforms to the model of rational choice, whatever the state of mind of the chooser.


Economic Analysis of Law (7th ed., 2007)


Rational maximization should not be confused with conscious calculation. Economics is not a theory about consciousness. Behavior is rational when it...

Rational maximization should not be confused with conscious calculation. Economics is not a theory about consciousness. Behavior is rational when it...

Rational maximization should not be confused with conscious calculation. Economics is not a theory about consciousness. Behavior is rational when it...

Rational maximization should not be confused with conscious calculation. Economics is not a theory about consciousness. Behavior is rational when it...