How does one assess the rationality of the actions of another person if you do not know what they know? We make decisions based upon information and I think that we can all agree that none of us has perfect information. The only thing that we know about other actors is that their information is not perfect - it may be the same as ours or different.
The one thing that we may be able to assess is the consistency of the other actor if we have knowledge of their history.
Comments