£118.81

Routledge Bounded Rationality and Behavioural Economics Book

Name: Routledge Bounded Rationality and Behavioural Economics Book
Brand: Routledge
Price: 125.0 GBP
Availability: InStock

Political Economy

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Description

Explore the fundamental connections between decision-making and economic theory with Bounded Rationality and Behavioural Economics. Part of the Routledge Advances in Behavioural Economics and Finance series, this text examines the concept introduced by Nobel Laureate Herbert Simon in the 1950s. Simon's theory of bounded rationality suggests that human cognitive abilities often fall short of finding optimal solutions to complex problems, leading to satisfactory but sub-optimal outcomes instead. While this concept helped build the foundation of Behavioural Economics, the two fields have recently moved in different directions with unique literature and approaches. This book investigates the areas where Economics and Psychology meet, providing a clear look at how these disciplines interact. It is an essential resource for those studying how cognitive limitations influence economic behavior and decision-making processes in real-life scenarios.

Key Features

Examines the core concept of bounded rationality developed by Nobel Laureate Herbert Simon.

Analyzes how cognitive limitations lead decision-makers to seek satisfactory rather than optimal outcomes.

Explores the historical relationship and recent divergence between Economics and Psychology.

Provides insight into the different approaches and literature within Behavioural Economics.

Part of the professional Routledge Advances in Behavioural Economics and Finance series.

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 Book

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