January 13, 2014

Microbes buy low and sell high


Microbes set up their own markets, comparing bids for commodities, hoarding to obtain a better price, and generally behaving in ways more commonly associated with Wall Street than the microscopic world.

The idea that people make calculated decisions that allow them to obtain the most goods with the smallest amount of effort — a complex hypothesis called ‘economic man’ for short — often has been challenged. People sometimes make irrational decisions, they rarely possess sufficient information to make the best decision, and they sometimes act against their own economic self-interest, critics say.