Originally Posted by Dude
A price is an opinion.

I like this take.

The problem in markets is that opinions can be rational to the individual with distorted expectations but irrational on an objective basis with full information. But, macro tools based on micro foundations are still predicated on a "representative household". So it's a challenge of aggregating up and adjusting for heterogeneity of expectations and individual characteristics. Human behaviour is hairy...it makes theoretical math and the natural sciences look so elegant by contrast!

What is to give light must endure burning.