compare this theory of choice with bounded rationality, which is a different notion of rationality, and with an approach that … classical theory of choice would suggest, the economic agents are rational and the markets are or should be efficient and behave … also rationally. This contribution tries to highlight some well-known limits of the classical theory of rational choice and …

compare this theory of choice with a different notion of rationality, bounded rationality, and with an approach that seeks to … classical theory of choice would suggest, the economic agents are rational and the markets are or should be efficient and behave … also rationally. This contribution tries to highlight some well-known limits of the classical theory of rational choiceand …

normative aspects of law. Because this literature is relatively new among legally-minded economists, we spend some time in this …

The main purpose of rational choice theory is to lay out in clear and transparent terms what conditions are necessary … and/or sufficient for the validity of statements about consistent human behavior. Strong criteria for rationality are â …

This contribution focuses on the concept of bounded rationality, highlighting the role of psychology in the economic … decisions. The work analyzes Simon's approach and his notion of bounded rationality as procedural rationality. Moreover, it …

compare this theory of choice with bounded rationality, which is a different notion of rationality, and with an approach that … classical theory of choice would suggest, the economic agents are rational and the markets are or should be efficient and behave … also rationally. This contribution tries to highlight some well-known limits of the classical theory of rational choice and …

economics, as well as bounded and ecological rationality are discussed. The paper presents new econometric evidence based on …

should be imported to improve the theory. Three elements are presented which lead to new and different policy conclusions. …Rational Choice Theory is often criticized to indoctrinate students in a negative, which is supported by some … laboratory experiments. But do students of Rational Choice Theory really behave more selfishly? This paper presents evidence from …

This paper discusses the ways by which a certain type of behavioral deviation from expected utility theory has been … handled by psychologists and economists. With respect to the historical background of decision theory in economics, it is …