Bad idea if you just go "live rationally", imo. I predict it'd end up either as mostly useless cargo-cult behavior by a sufficiently incompetent-and-unaware-of-it participant, going crazy and frustrated trying to apply not yet processed for daily human consumption raw heuristics and biases research to everyday living 24/7, or doing the general wise living thing that smart people with life experience often already do to the best of their ability but which you can't really impart in an instruction manual very well without having the "smart" and "life experience" parts covered.

Might be salvageable if you narrowed it down a bit. Live rationally to what end? Not having a clear idea of what my goals are is the first problem that comes to my mind when looking at this. I don't see why "my goals are doing exactly what I already do day in, day out, so I've already been living rationally all this time, thank you very much" would necessarily be incoherent for example. So maybe go for success for society-wide measuring sticks, like impressive performace in standardised education and good income? A lot of people are doing that, but I'm not seeing terribly much sentiment here for people trying to maximize their earning potential and professional placement as the end goal in life, though some do consider it instumentally.

So maybe say the goal is to live the good life. Only it seems that the good life consists of goals that are often not quite accessible to the conscious mind and methods to search pursue them that can be quite elaborate and often need to be improvised on the spot.

Not to be all bleak and obscurantist though, there is the Wissner-Gross entropy thing, which is a quite interesting idea for an universal goal heuristic, something like "maneuver to maximize your decision space". Also pretty squarely in the not yet ready for human consumption, will drive you crazy if you try to naively apply it 24/7 bin. And if you could actually codify how well someone's satisfying a goal like that you'd probably be getting a PhD and a research job at Google, not running a forum challenge.