Humans are not ideal rational optimizers of their respective utility functions.
Then why claim that they have one? If humans have intransitive preferences (A>B>C>A), as I often do, then why claim that actually their preferences are secretly transitive but they fail to act on them properly? Nothing we know about the brain points to there being a hidden box with a pristine and pure utility function, that we then implement poorly.
Then why claim that they have one? If humans have intransitive preferences (A>B>C>A), as I often do, then why claim that actually their preferences are secretly transitive but they fail to act on them properly? Nothing we know about the brain points to there being a hidden box with a pristine and pure utility function, that we then implement poorly.