Re: Free Market
No market is a 100% efficient. However, the higher the degree of efficiency the better the market runs.
"People continue to buy gas at the SA. Why? Didn't see the signs; habit; they like the coffee at SA better; the BP cashier is grumpy; etc. None of those things are rational, but they drive the economy."
None of these actions are irrational:
Didnt see the sign: simple lack of information
Like the coffee better: compensating additional benefit
the BP cashier is grumpy: countering negative consequence for the cheaper gas
Out of habit: compensating additional benefit of familiarity.
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