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Old 10-31-2007, 04:30 PM
Luxoris Luxoris is offline
Senior Member
 
Join Date: Jul 2007
Posts: 106
Default Re: Revealed Preferences (people are liars)

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So I'm going to choose to do something that I would prefer not to do? Tell me more.

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First, people sometimes have no preference and still take action.

Second, people's preferences are frequently formed on faulty information and therfore their actions don't represent the action they would take in their own self-interest.

Third, even when fully informed people sometimes act against their own preferences.
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