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Reductio ad absurdum against homo economicus... what do you think?

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Clayton posted on Fri, Apr 22 2011 12:31 PM

Just had an odd thought on the way into work this morning... was thinking about how much easier my life would be if I could just buy the one, winning lottery ticket. But then, it struck me that homo economicus should know that buying the winning lottery ticket is the most rational course of action. Since, by definition, homo economicus always acts rationally, he would buy all the winning lottery tickets and become emperor of the globe.

Perhaps I'm just straw-manning homo economicus... any thoughts?

Clayton -

http://voluntaryistreader.wordpress.com
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I think calling this a strawman would do an injustice to the sturdiness of strawmen everywhere.

A criticism that can be brought against everything ought not to be brought against anything.
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Yeaaa no.

If homo economicus knew where the lottery tickets were to buy he would buy them, he cannot know so the does not buy.

At last those coming came and they never looked back With blinding stars in their eyes but all they saw was black...
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"Tell me computer, where are the remaining Wonka Golden Tickets?"

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The answer would come easier if we knew what exact statement you are trying to disprove.

BTW, buying a winning ticket is not the only way to win - selling a lot of losing tickets also leads to win (and profit, optionally in caps).

The Voluntaryist Reader - read, comment, post your own.
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