Tag - Najia Tasnim

Where is our Rational Consumer?

Najia Tasnim, Jahangirnagar University In economics, we always count on the rationality of every economic agent, though we know it hardly resembles reality. A rational consumer always wants to maximize his utility, and most importantly, knows HOW to do this. Where in reality, nobody knows that exactly (except some advertisements agencies?) In economics, a rational consumer never asks: “Why am I having...