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Why does it take just a few people to act rationally for the standard model to hold?

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  1. Today, 13:52
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    Only a few people act rationally for the standard model to hold. One good example to explain it is if some money is left on the table, the few people who act rationally (selfishly) will definitely take advantage of the irrationality of other people. Hence, they will take the money that's on the table.
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