Debate against humans being rational.. humans are irrational Coursework

Debate against humans being rational.. humans are irrational - Coursework Example Altruisms is necessarily being counted under the voluntary giving away of one’s financial resources or acting in a way which deliberately provides benefit to the other person at the cost of their own benefit. Hence in this way, humans act irrational defying the rules of the rationality. (Jensen, 2008). The expected utility model which is essential model which is based on the rational behaviors however it is not the case in all conditions. Through anchoring people are often overly influenced by outside suggestion. People can be influenced even when they know that the suggestion is not being made by someone who is better informed. (Kahneman & Tversky, 1999). Besides Expected Utility theory also do not seem to be in conformity with the rationality. The famous experiments conducted by Tversky and Kahneman suggested a revolutionary shift from the expected utility theory and clearly suggested than we humans are not essentially rational. These experiments were: Few of the surveys conducted by Stuart Sunderland widely suggest that the irrational behavior is far more widespread and is normal than the supposed. (Sutherland, 1994). According to Sunderland there are various natural phenomenon which suggest that the man can act in irrational way. There is also a growing debate among the cognitive psychologists which suggest that we act according to the principal that differ from those we ought to follow. (Stein, 1997) There is also a phenomenon called framing effect which basically outlines that we decide differently depending on how we frame the decision based on the losses and gains. (Wang & Fischbeck, 2004) This therefore necessarily does not mean that in all situations we act rationally. We don’t always seem to be behaving according to rationality. The deviation from the rationality seems to be due to Satisficing and heuristics effects. The