Bounded Rationality and Behavioural Economics - Routledge - Image 1

£118.82

Routledge Bounded Rationality and Behavioural Economics - Routledge

Name: Bounded Rationality and Behavioural Economics - Routledge
Brand: Routledge
Price: 118.82 GBP
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Political Economy

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Description

Explore the foundational concept of bounded rationality developed by Economics Nobel Laureate Herbert Simon in the 1950s, which fundamentally challenges the assumption that human decision-makers can always find optimal solutions to complex real-world problems. This comprehensive volume examines how cognitive limitations lead decision-makers to settle for satisfactory, sub-optimal outcomes rather than perfection. The book traces the development of Behavioural Economics from its roots in bounded rationality theory and analyses how these two interconnected fields have evolved with distinct literatures, methodologies, and scholarly communities. Part of the Routledge Advances in Behavioural Economics and Finance series, this work bridges classical economic theory with psychological insights to explain how people actually make decisions in practice, offering essential reading for economists, finance professionals, and anyone seeking to understand the gap between theoretical rationality and real human behaviour.

Key Features

Routledge publishes this advanced text as part of its prestigious Advances in Behavioural Economics and Finance series for academic and professional audiences.

The book explores Herbert Simon's bounded rationality concept and its crucial role in the emergence of Behavioural Economics as a distinct field of study.

Examines how cognitive limitations affect human decision-making and lead to satisfactory rather than optimal choices in complex real-world situations.

Analyses the divergence between Behavioural Economics and classical economics, highlighting their separate literatures, approaches, and scholarly communities.

Product Specifications

Brand: Routledge
Format: hardcover
ASIN: 1138790206
Category: Books > Subjects > Business, Finance & Law > Economics > Political Economy
Domain: Amazon UK
Release Date: 01 September 2015
Listed Since: 16 March 2015

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Routledge Bounded Rationality and Behavioural Economics - Routledge

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