Comment on It's barely a science.

panda_abyss@lemmy.ca ⁨17⁩ ⁨hours⁩ ago

• ayyy@sh.itjust.works ⁨12⁩ ⁨hours⁩ ago

  If markets are driven by “rational actors” then why is advertising a trillion dollar industry?

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  • gandalf_der_12te@discuss.tchncs.de ⁨1⁩ ⁨hour⁩ ago

    I think a mainstream way of seeing things is that there’s rational agents and non-rational agents, and they behave differently.

    I.e. a lot of economy discusses how a rational agent would behave. But economic schools also recognize that not every human is a rational agent, and that’s what advertisement is for. Basically, advertisement is a way to part fools and their money, i.e. give the money to more rational people instead. This is also partially justified with the philosophy that the world would become a better place if all the money (and therefore power) was in the hand of rational people.

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  • Natanael@infosec.pub ⁨10⁩ ⁨hours⁩ ago

    They’re just contributing to perfect information, or, uh…

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