Kacelnik, Schuck-Paim and Pompilio (this volume, p. 377) show that rationality axioms from economics are neither … claim that economic rationality implies biological adaptiveness is Kacelnik et al’s example of female ruffs that are worse … economic rationality. Together, the two examples demonstrate that axiomatic norms are both unnecessary and insufficient for …

specific set of new values emerged. Then, taking into account bounded rationality, as a second behavioural mechanism we analyse …

This article shows the relationship between market and firms through the theory of transactional cost and the relations …

try to obtain more concessions from a rival country. To analyze this situation we use a game theory dynamic model in …

In this paper, we empirically examine a heterogenous bounded rationality version of a hybrid New-Keynesian model. The … and inflation gap. Our main empirical findings show that a bounded rationality model with cognitive limitation provides … expectations are assumed. This implies that the bounded rationality model provides some structural insights on the expectation …