An in-depth study of behavioural finance, examining the psychological factors influencing financial decisions and market outcomes.
Bounded rationality explains the constraints of human information processing and decision-making. It challenges the model of the all-knowing, optimal decision-maker in economics, emphasizing limited alternatives and satisficing behaviors.
A mental shortcut that allows people to solve problems and make judgments quickly and efficiently. This entry explores the definition, types, examples, historical context, and applications of heuristics in various fields.
An exploration into rationality, emphasizing logical reasoning based on available facts, decision-making processes, types of rationality, historical context, and related concepts.
An economic theory focused on the costs associated with conducting transactions, either within firms or between firms in markets. It includes considerations of bounded rationality, information problems, negotiating costs, and opportunism.
An in-depth exploration of Herbert A. Simon's contributions to economics, political science, and artificial intelligence, with a focus on his theory of bounded rationality.
