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Bounded rationality

Author: Search for this author Graham, Mallard (author)
Statement of Responsibility: Mallard Graham
Year: 2020
Publisher: Newcastle, Agenda Publishing
Series: The Economy
Media group: eBook/eResource
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Barcode: 01156108 Locations: 1 user licence Status: Online

Content

Understanding how we take economic decisions and how we depart from rational choice theory has become increasingly important to understanding the workings of the economy at all levels. The concept of bounded rationality has been central to that endeavour and is used in economic models to shed light on real-life behaviour, which has led to specific policy implications that would otherwise have gone unappreciated. This introduction presents the key concepts and approaches adopted in the field of bounded rationality. The exposition is non-technical and free from any mathematical expressions and workings. The focus throughout is primarily on the behaviour of individuals or organizations within given situations rather than on macroeconomic concerns. The book examines how the field has evolved since its beginnings and assesses the strengths and weaknesses of its current research programme, including its relationship with behavioural economics. The book is excellent preparatory reading for degree-level courses in economics as well as specific courses in behavioural economics and philosophy of economics.

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Author: Search for this author Graham, Mallard (author)
Statement of Responsibility: Mallard Graham
Year: 2020
Publisher: Newcastle, Agenda Publishing
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ISBN: 978-1-78821-259-5
ISBN (2nd): 978-1-78821-257-1
Description: 1 Online-Ressource (VII, 112 Seiten), Illustrationen
Series: The Economy
Tags: Decision Making, Mathematical Model, €Bounded Rationality, Wirtschaftstheorie, Theory, Rationalität, Entscheidung, Decision, Entscheidungsfindung, Mathematisches Modell, Theorie, Theoretisches Modell, Rationality
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Language: eng
Media group: eBook/eResource