Often people have the information they need to make a rational decision, but they choose to discount, ignore, or misinterpret it. No decision based on this choice can meaningfully be called "rational" without stretching the definition of rationality to the useless.
This is quite different that making a rational decision based on incomplete or imperfect information.
Modeling human beings as rational actors, even in aggregate, is often a deeply flawed approximation for this reason.
Often people have the information they need to make a rational decision, but they choose to discount, ignore, or misinterpret it. No decision based on this choice can meaningfully be called "rational" without stretching the definition of rationality to the useless.
This is quite different that making a rational decision based on incomplete or imperfect information.
Modeling human beings as rational actors, even in aggregate, is often a deeply flawed approximation for this reason.