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Category:	Science
Word Count:	1253
Featured Papers from Direct Essays 1. Human Being: As Interpreted by Aristotle and Kierkegaard 2. What is a Human Being 3. Are These Not Also Men 4. Body and Soul in the Philosophy of St. Thomas Aquinas 5. huck finn

	Is the human being rational or not
	1. Introduction The neo-classical finance theory which is onset of Markowitz’s portfolio selection theory(1952) is mostly based on the following assumptions: The investors’ behavior are completely rational, the actions of all the investors are guided by the criterion of maximizing expected utility; And simultaneously the markets are efficient (EMH). As Fridson (1994) asserted, based upon the normative assumptions and the EMH, rational and fully informed investors (i.e., representative agents)

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Is the human being rational or not