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Amelia Davenport 🍻

Amelia Davenport 🍻
@davenportofcall

Nov 24
4 tweets
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It’s honestly kind of funny that Hayekians seriously believe that real preferences can only be revealed in prices despite contemporary behavioral economics research showing how irrational consumer behavior is. They have to deny the continuity of the subject like a Buddhist parody

Your real preference was going on a booze bender no matter how much you want to quit after someone handed you a beer since you bought the rest. Somehow they believe that the subject isn’t real and radical personal responsibility at once
Stated preference isn't perfectly reliable for uncovering real preference, but neither are market transactions unless you assume a priori that real preference shares an identity with preference as expressed in purchases
I don't think it makes sense to have retail store layout's influence on sales have an influence on the way capital goods are allocated personally despite this supposedly revealing consumer preference for the easiest to access goods
Amelia Davenport 🍻

Amelia Davenport 🍻

@davenportofcall
Writer, Podcaster, and Editor for Cosmonaut Magazine. I write on Cybernetics, Organization Science, and Political Economy. All views are mine. RT ≠ endorsement
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