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Discussion Report 2.2

In: Business and Management

Submitted By 1155036544
Words 349
Pages 2
In this debate, two parties are arguing whether people are rational and reasons behind. The for side assert that people are rational by first giving the definition in economics of rationality. And the against side attack the point by giving examples and arguments.

Debater from the for side put forward that, in the objective layer, as long as people do a cost-benefit analysis before making decisions, that means people are rational, which means that people do not make decisions out of nothing but after careful thought. In the subjective layer of rationalities, different people make decisions based on their own knowledge and background. And they admit that exist constraints to information that people owned.

Debater from the against side assumes the information that people owns is a circle, where there is only limited information. The real information is a lager circle that contains the limited circle. In this way, there are many limitations of people, and they cannot actually control complete information. Therefore people are not able to make sensible decisions and not rational. They give an example of going to university to show that individuals are irrational.

But according to the for side, it does not take full information for people to be rational. What matters is that if people have the act of thinking and analyzing before taking actions. And we can’t tell that rational or not only depends on decision making process. Additionally, they mention completeness. Because what we want to see is actually what we want to see, and they disagree that it is irrational when CPU makes decisions.

The against side say that people’s decision making process is too easy to be affected by other people. And it is the usual case for people that they can’t be rational for long. The most important thing is that the criteria for rationality is not based on the analysis before

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