Revealed Preferences (people are liars)

[Luxoris]

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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