Explain, in your own words, the rationality assumption, and contrast it with the assumption of bounded rationality

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Explain, in your own words, the rationality assumption, and contrast it with the assumption of bounded rationality proposed by adherents of behavioral economics.

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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Question Posted: Aug 01, 2016 12:32 PM

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Explain, in your own words, the rationality assumption, and contrast it with the assumption of bounded rationality

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Rationality assumptions state that people do not knowingly take the decisions that ma...View the full answer

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