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Old 10-31-2007, 09:38 PM
Borodog Borodog is offline
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Join Date: Jan 2004
Location: Performing miracles.
Posts: 11,182
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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I don't think you understand the word preference.

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I do, and believe you do. You just accept the fallacy that actions always reveal preferences.

they dont

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You do realize you've linked a paper that says the exact opposite of what you just claimed, right?

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Hence, preferences are revealed in behavior, even if they are not implemented by behavior.

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It's ok though. I wouldn't expect you to read all the way through the abstract.
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