Home / Economics / Bounded Rationality (The Economy Key Ideas)

Bounded Rationality (The Economy Key Ideas)

AUTHOR
Price
€20.00
€22.40 -11%
Upon request
Dispatched within 15 - 25 days.

Add to wishlist

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.

Author: Mallard Graham
Publisher: AGENDA PUBLISHING
Pages: 128
ISBN: 9781788212588
Cover: Paperback
Edition Number: 1
Release Year: 2020

1. Different conceptions of decision-making
2. A brief history
3. Good enough
4. Optimization with additional constraints
5. Reflections on the story
Glossary

Graham Mallard is Head of Economics at Cheltenham College. He gained his PhD in economics from the University of Bath in 2011, where he remains a Visiting Research Fellow. He is the author of two successful textbooks: The Economics Companion (2011) and Transport Economics (co-authored with Stephen Glaister) (2008). His latest book, Bounded Rationality and Behavioural Economics was published in 2015.

You may also like

Newsletter

Subscribe to the newsletter to be the first to receive our new releases and offers
Your account Your wishlist

This website uses cookies

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.