profound knowledge why and to what extent economic agents behave in a bounded rational way. We propose that business management … existing anecdotic evidence of “behavioural anomaliesâ€. Modifying an existing business management game, in which investment …, financing and production decisions have to be made, we demonstrate how bounded rationality can be quantified and separated into …

The weak rationality principle is not an empirical statement but a heuristic rule for how to proceed in social sciences …-foundation and, therefore, to employ the rationality assumption in economic models. Then, we discuss whether the anomalies of … individual behaviour as highlighted in modern behavioural economics impair the applicability of the weak rationality principle …

einer Mikrofundierung fuer die makrooekonomische Theorie eingegangen. Danach wird aufgezeigt, welche Rolle dieses Prinzip … Probleme des freien Willens sowie der Willensschwaeche im Rahmen des oekonomischen Verhaltensmodells. (The weak rationality … rationality assumption in economic models. Then, we discuss whether the anomalies of individual behaviour as highlighted in modern …

This paper provides an introduction to the field of evolutionary economics with emphasis on the evolutionary theory of … evolutionary theory of household behavior is to improve upon the neoclassical theory of household behavior by replacing the … neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …

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 …

The weak rationality principle is not an empirical statement but a heuristic rule how to proceed in social sciences. It …, therefore, employ the rationality assumption in economic models. Then, with reference to the ?bounded rationality’ approach, the … rationality assumption. We conclude with some remarks of handling the problems of ?free will’ as well as ?weakness of the will …

The weak rationality principle is not an empirical statement but a heuristic rule of how to proceed in social sciences …-foundation and, therefore, employ the rationality assumption in economic models. Then, with reference to the ‘bounded rationality … a part of the rationality assumption. We conclude with some remarks on handling the problems of ‘free will’ as well as …

This paper empirically investigates the rationality assumption commonly applied in economic modeling by exploiting a …. Given a rationality assumption of individuals computing optimally, there should be no difference in the strategies used …

meaning of rationality in rational choice theory, the contributions of Simon on “bounded rationality” and the different lines …Concept of rationality is crucial in economics. Different notions of rationality have accompanied its long journey …, from that implied in classical economics to those proposed by neoclassical theory since 1870s. The paper also discusses the …