Nov 22, 2017

Revelation of Preferences

"The axiom of revelation of preferences states the following: you will not have an idea about what people really think, what predicts people’s actions, merely by asking them – they themselves don’t know. What matters, in the end, is what they pay for goods, not what they say they 'think' about them, or what are the reasons they give you or themselves for that."

- NN Taleb, "How to be Rational about Rationality," Skin in the Game

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