Rationality is anti-entropic

The article explores the fruitfulness of assuming all economic behavior to be non-rational unless special factors intervene to make it rational. The definition of rationality applied is that of intentional or calculative rationality. This is deemed to be a variable, not a trait of a species. The association of rationality with three kinds of investment is indicated. Prior research on information costs, learning curves, habit and impulse buying are shown to be compatible with the article's core thesis. So is the evidence about rational behavior being ‘cool’.