From Chee Kian Leong.

Sir, Contrary to what Philip Ball believes, many economists are already busy "dealing with the variety and irrationality of real agents" ("Baroque fantasies of a most peculiar science", October 30). These economists include several Nobel prize-winners: Herbert A. Simon, Daniel Kahneman, Vernon L. Smith and Thomas C. Schelling. In fact, the Nobel prize this year was awarded to Edmund Phelps for challenging the Phillips curve trade-offs by "taking into account problems of information in the economy".