Are People Rational?
By Ivar Ekeland
In standard model of economic theory, individuals are seen as strategic utility-maximizers.
That is, they proceed by ranking alternatives by order of preferences, and by
choosing the best one, and they incorporate into their own decision the
anticipated decisions of others. In this talk, we will investigate whether this
assumption is true. To do so, we will derive some mathematical consequences, and
check whether they are observed in practical situations, such as soccer
competitions and family expenditure.