Classical models assume rational behavior, yet real-world decisions constantly deviate from that ideal. Emotions, limited information, and cognitive biases shape choices that don’t fit clean optimization. Rationality becomes the exception, not the baseline.

If economic activity is driven by decisions that aren’t always optimal, can rationality truly serve as the foundation of theory? Or is it simply a convenient abstraction that simplifies complex behavior into neat equations? The real economy may be a hybrid of logic and impulse — and that mix is what drives its movement.