Becker conjecture. Becker believed that in competitive labor markets, only people who are able to perform their jobs like Econs are able to land the key positions. Becker made this conjecture when he was asked his opinion of behavioral economics. “Division of labor strongly attenuates if not eliminates any effects [caused by bounded rationality.] . . . [I]t doesn’t matter if 90 percent of people can’t do the complex analysis required to calculate probabilities. The 10 percent of people who can will end up in the jobs where it’s required.”
