Arationality vs. Irrationality: What's the difference?
This video describes the difference between arationality and irrationality in behavioral economics. I give examples of each. I relate these to System I and System II from Daniel Kahneman's Thinking Fast and Slow and briefly show how economists approach modelling the two.
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Thanks 🙏 Your videos are so great! Excellent explanations and context to my reading of The Undoing Project and Thinking Fast Thinking Slow
You are brilliant at explaining stuff, thanks
Automatic System Reflective System Uncontrolled Controlled Effortless Effortful Associative Deductive Fast Slow Unconscious Self-aware Skilled Rule-following Is the classification in the Nudge book the same as the classification in the video?
you lost me at economists. Economics is a form of brain damage