You use indirect evidence to suggest that rationality increases people’s ability to choose good actions and thus improves their lives. However, direct empirical evidence contradicts this: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1692437 https://ideas.repec.org/p/otg/wpaper/1308.html
I think that the valley of bad rationality is much wider than we’d at first suspect.
You use indirect evidence to suggest that rationality increases people’s ability to choose good actions and thus improves their lives. However, direct empirical evidence contradicts this: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1692437 https://ideas.repec.org/p/otg/wpaper/1308.html
I think that the valley of bad rationality is much wider than we’d at first suspect.