Rationality Quotes

Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.

I suppose if you look back to your early childhood you accept everything people tell you, and that includes a heavy dose of irrationality - you're told about tooth fairies and Father Christmas and things.

I think looking back to my own childhood, the fact that so many of the stories I read allowed the possibility of frogs turning into princes, whether that has a sort of insidious affect on rationality, I'm not sure. Perhaps it's something for research.

Rationality is not one of this industry's attributes.

We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.