Rational actors
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I’ve seen a few threads here and elsewhere on preparing for the behavior of rational actors. But it seems “rational actors” is a euphemism for worst case scenario ADHD short term actors who are oblivious to the entropy which will bite them back directly or indirectly. By cashing out fast they destroy confidence in a medium of exchange they might want to have when external factors (like the war economy) go unhinged.
There’s also the irrational actor who sacrifices their wealth to do damage for personal reasons, ideology, betting on unlikely future gains, or out of spite.
How do we classify and analyze these annoyances?
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We are not rational most of the time and in fact the whole model of “homo economicus” is very two dimensional. I don’t know about classification but what I do know is that I don’t have time for fear based behaviour like you mentioned and the people who give in to it and just want to cash in quick for a fast buck.
Refusing to show courage and take responsibility by pushing their fears on to other people? It is so perverse it sickens me. This is not what it means to be human.
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This is deep shit!
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[quote name=“chrisj” post=“33842” timestamp=“1384211300”]
We are not rational most of the time and in fact the whole model of “homo economicus” is very two dimensional. I don’t know about classification but what I do know is that I don’t have time for fear based behaviour like you mentioned and the people who give in to it and just want to cash in quick for a fast buck.Refusing to show courage and take responsibility by pushing their fears on to other people? It is so perverse it sickens me. This is not what it means to be human.
[/quote]Seems like “rational” is based on a spaceless-timeless model of self-interest. Anyone with two brain cells firing should be aware that the economy they see outside is floating, with nothing but faith and habit supporting it. How anyone would play fast and loose on the equivalent of a rope bridge is beyond me.
I’ve noticed that ever since the fiasco with Avalon and Butterfly Labs, not even DDoSers and blockchain smashers are showing up.
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[quote name=“kris_davison” post=“33845” timestamp=“1384211891”]
This is deep shit!
[/quote]This is to early in the morning to read! :o
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I love this thread.
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[quote name=“chrisj” post=“33862” timestamp=“1384254002”]
I love this thread.
[/quote]I think irrational actors are well covered. Compulsive, crusading, vengeful, absolutist nut jobs.
So rational actors seem to fall into these frames:
[list]
[*]distance in relevance
[*]time in effect
[*]environment where the action happens
[*]opportunity for future action
[/list]These frames can be divided into four more frames each:
[list]
[*]long
[*]short
[*]true
[*]false
[/list]That’s 16 (4^2) variations of rational actor behavior. Give me time and I can show you 256 (4^4) variations, but these will do for now.
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[quote name=“zerodrama” post=“33872” timestamp=“1384265263”]
[quote author=chrisj link=topic=4374.msg33862#msg33862 date=1384254002]
I love this thread.
[/quote]I think irrational actors are well covered. Compulsive, crusading, vengeful, absolutist nut jobs.
So rational actors seem to fall into these frames:
[list]
[*]distance in relevance
[*]time in effect
[*]environment where the action happens
[*]opportunity for future action
[/list]These frames can be divided into four more frames each:
[list]
[*]long
[*]short
[*]true
[*]false
[/list]That’s 16 (4^2) variations of rational actor behavior. Give me time and I can show you 256 (4^4) variations, but these will do for now.
[/quote]This is interesting. Could you give some examples? At the moment I am thinking something like:
[i]A fund manager in New York playing commodities market which has negative effects on a community the other side of the globe. Because he is far away and cannot see the impact of his actions he distances himself and treats them like an object.
He is able to rationalise his behaviour because the only thing he includes on his balance sheet is the net profit. But the profit is an illusion because all he has done is excluded the externalities and pushed them on to someone else’s balance sheet.
[/i]Something like this?
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[quote name=“zerodrama” post=“33872” timestamp=“1384265263”]
I think irrational actors are well covered. Compulsive, crusading, vengeful, absolutist nut jobs.
[/quote]You’re going a little hard on Justabit there aren’t you? Give the guy a break! It’s not like he dumped all of his FTC in a huff when his [s]scam[/s] errr [s]creative three-way mind f***[/s] errr [s]bait and switch for nothing[/s] … scam … was sorted out. ::)
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[quote name=“Tuck Fheman” post=“33895” timestamp=“1384286713”]
[quote author=zerodrama link=topic=4374.msg33872#msg33872 date=1384265263]
I think irrational actors are well covered. Compulsive, crusading, vengeful, absolutist nut jobs.
[/quote]You’re going a little hard on Justabit there aren’t you? Give the guy a break! It’s not like he dumped all of his FTC in a huff when his [s]scam[/s] errr [s]creative three-way mind f***[/s] errr [s]bait and switch for nothing[/s] … scam … was sorted out. ::)
[/quote]I think a lot of people got sucked in and people here wanted to work on an awesome idea. Anyway. This is about making sense of rational actors in a richer framework than say screw you I got mine,
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LOL after today, I think we need to really look into rational actors.
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[quote name=“zerodrama” post=“34099” timestamp=“1384395097”]
LOL after today, I think we need to really look into rational actors.
[/quote]lol
