EconIssues – Patrick A McNutt

http://www.patrickmcnutt.com/

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In a new publication, Patrick develops a framework to understand secrets and lies. For every secret there is at least one lie. Rational man is dedicated to telling the truth when he is in a position to know, and act. Telling the truth has become a behavioural norm in society. Patrick argues that there is a no-truth equilibrium and honesty may not be the best policy!Answers can only be found in arguing that honesty makes sense because we cannot fool reality.

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Secret Street and The Neighbourhood of No-Truth (PDF)

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