Bounded rationality
This short book introduces the field of bounded rationality to a beginning readership in economics. It is intended to be a tour of the key concepts involved in the modelling of bounded rationality, the approaches that have been adopted and some of the most revealing, and at times surprising, finding...
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| Format: | eBook |
| Language: | English |
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Newcastle Helix, Newcastle upon Tyne
Agenda Publishing
2020, 2020©2020
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| Series: | The economy / key ideas
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| Online Access: | |
| Collection: | JSTOR Books - Collection details see MPG.ReNa |
Table of Contents:
- Includes bibliographical references and index
- Acknowledgements
- 1. Different conceptions of decision-making. The schism ; Rationality: complete and bounded ; Causes of bounded rationality ; Bounded rationality and behavioural economics ; The structure of what follows
- 2. A brief history of bounded rationality. The marginal revolution ; Growing discontent in economics ; A widening interest in bounded rationality ; A deepening interest in bounded rationality
- 3. Approaches of non-optimization. Satisficing search ; Heuristic use ; Probability responding ; Applications of finite automata
- 4. Approaches of optimization with additional constraints. Constraining information ; Constraining processing ; Constraining responses
- 5. Concluding thoughts. The value of bounded rationality ; The limitations of bounded rationality ; The future of bounded rationality ; The message of bounded rationality
- Glossary
- Index