The Perception Test: Higher Order Beliefs

Economics is regarded as a ‘soft science’ because it studies a field that is heavily influenced by human behavior.

Despite developing rigorous models the world depends on, precise measurements that move markets, and insights for how humans behave, economics is dependent on some key assumptions (such as rational actors).

For this reason, it is often a target of criticism from the ‘hard sciences’:

Economists even study how rational we can be with the information we have, a branch of game theory involving higher order beliefs.

I made a small web project to demonstrate the concept of higher order beliefs. It uses memes to make it more fun. Please check it out and participate!

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