27chaos comments on What Cost for Irrationality? - Less Wrong
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You use indirect evidence to suggest that rationality increases people's ability to choose good actions and thus improves their lives. However, direct empirical evidence contradicts this: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1692437 https://ideas.repec.org/p/otg/wpaper/1308.html
I think that the valley of bad rationality is much wider than we'd at first suspect.