Is the Bayesian Model of Rationality a Good One?

A lot of economic theory is based on this assumption of rationality, and they as psychologists thought that this assumption was more or less bogus. They ran these experiments initially to test this out, at least in part. But here they are running experiments which are showing that people are not behaving according to the rules of rationality,. And so that would seem to be a refutation of this assumption that people are behaving this way. So I don't think that Kahneman Tversky's opinion or work on this or that their conclusions that they drew from it is necessarily the prevailing view anymore.