Economics in the dock

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Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Interesting and entertaining analysis, attacking economics's notion of the rational actor: http://www.youtube.com/watch?feature=pl ... ePKbfC7UNk#!

One of the examples of irrationality given is that Irish punters apparently wager significantly more on Irish-trained horses than those trained abroad.

Jeff
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gazuty
Posts: 2557
Joined: Sun Jun 26, 2011 11:03 am

So true.

I always remember Gomez in the Addams family talking to his broker.

Broker: your shares are rising. Gomez: sell

Broker: your shares are falling. Gomez: buy
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