Rational Decision Making
![['rational decision making', 'self interested actions', 'marketplace preferences']](/_next/image?url=https%3A%2F%2Fd1v0ynld5x949x.cloudfront.net%2FImages%2F24916%2F10500743_image.jpg&w=2048&q=75)
Prompt
They are hyperrational in their decision making, always making the decisions that are most likely to improve their welfare. 2. Their preferences are already formed before they enter the marketplace. 3. They maximize completely—stated differently, they do not settle for “just okay,” which has been coined as “satisficing” in the literature. 4. They make decisions in a purely selfinterested fashion, acting on neither envy nor altruism. Nor is there a place for intrinsic rewards. To illustrate, it is difficult to see why an Econ would volunteer to join the army, donate to charity, or recycle
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