The assumption is crucial though. Anyway it's made in aggregate & in a theoretical perfect market where everyone knows everything.
The thing is with this market that it's damn near perfect. It's a big enough decision to make sure consumers research it, work it out on a piece of paper, hire consultants to help with the decision. There's plenty of legislation ensuring information availability & simplicity.
The thing is with this market that it's damn near perfect. It's a big enough decision to make sure consumers research it, work it out on a piece of paper, hire consultants to help with the decision. There's plenty of legislation ensuring information availability & simplicity.
Still the actors are not on average rational.