Bounded Rationality and Behavioural Economics (Record no. 3801)
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| fixed length control field | 02312 a2200313 4500 |
| 001 - CONTROL NUMBER | |
| control field | 1317653858 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250317111557.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 250312042015GB 23 eng |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER | |
| International Standard Book Number | 9781317653851 |
| 037 ## - SOURCE OF ACQUISITION | |
| Source of stock number/acquisition | Taylor & Francis |
| Terms of availability | GBP 47.99 |
| Form of issue | BB |
| 040 ## - CATALOGING SOURCE | |
| Original cataloging agency | 01 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | eng |
| 072 7# - SUBJECT CATEGORY CODE | |
| Subject category code | KCA |
| Source | thema |
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| Subject category code | JMA |
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| Subject category code | KCP |
| Source | thema |
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| Source | bic |
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| Subject category code | JMA |
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| Subject category code | KCP |
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| Subject category code | BUS000000 |
| Source | bisac |
| 072 7# - SUBJECT CATEGORY CODE | |
| Subject category code | BUS069000 |
| Source | bisac |
| 072 7# - SUBJECT CATEGORY CODE | |
| Subject category code | BUS069030 |
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| 072 7# - SUBJECT CATEGORY CODE | |
| Subject category code | 330.019 |
| Source | bisac |
| 100 1# - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Graham Mallard |
| 245 10 - TITLE STATEMENT | |
| Title | Bounded Rationality and Behavioural Economics |
| 250 ## - EDITION STATEMENT | |
| Edition statement | 1 |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Place of publication, distribution, etc. | Oxford |
| Name of publisher, distributor, etc. | Routledge |
| Date of publication, distribution, etc. | 20150814 |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 140 p |
| 520 ## - SUMMARY, ETC. | |
| Expansion of summary note | Economics Nobel Laureate Herbert Simon developed the concept of bounded rationality in the 1950s. This asserts that the cognitive abilities of human decision-makers are not always sufficient to find optimal solutions to complex real-life problems, leading decision-makers to find satisfactory, sub-optimal outcomes. This was a foundational component of the development of Behavioural Economics but in recent years the two fields have diverged, each with its own literature, its own approach and its own proponents. Behavioural Economics explores the areas of commonality between Economics and Psychology, in terms of its focus and its approach, whereas the bounded rationality literature largely analyses the implications of sub-optimal decision‐making through the mathematically sophisticated methodology of mainstream Economics. This book examines the nature and consequences of this divergence and questions whether this is a case of beneficial specialisation or whether it is unhelpful, potentially stunting the development of some aspects of Economics. It has been suggested that the major deficiency of Behavioural Economics is that it has failed to produce a single, widely applicable alternative to constrained optimisation. This book evaluates the extent to which this is the true and, if it is, the extent to which it is a product of the divergence between the two literatures. It also seeks to identify commonalities between the two subjects and suggests avenues of research in Economics that would benefit from a re-fusion of these two fields. |
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