Why does the assumption of bounded rationality suggest that people might use rules of thumb to guide

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Why does the assumption of bounded rationality suggest that people might use rules of thumb to guide their decision making instead of considering every possible choice available to them?

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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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Why does the assumption of bounded rationality suggest that people might use rules of thumb to guide

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Under the assumptions of Bounded Rational Behavior people use the ruleofthumb becau...View the full answer

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