https://www.investmentnews.com/wp-content/uploads/assets/graphics src="/wp-content/uploads2018/11/CI1176951031.JPG" Making a sandwich is easy. Making a perfect ...

To date we have taken apart the firm and examined where institutions offer no advantage over bargaining by individuals, or relying on the price mechanism. We have seen two early explanations for ...

ver the last three months, the Trade Ministry has changed its policy instruments three times to stabilize the cooking oil price within a range the government believes will protect domestic consumers ...

The form of bounded rationality characterizing the representative agent is key in the choice of the optimal monetary policy regime. While inflation targeting prevails for myopia that distorts agents' ...

The BRIC (Bounded Rationality in Choice) conference brings together researchers in choice theory, experimental economics and behavioral economics who are interested in how bounds on rationality play ...

Herbert Simon (1916-2001) is most famous for what is known to economists as the theory of bounded rationality, a theory about economic decision-making that Simon himself preferred to call “satisficing ...

Rational artificial intelligence sounds simple on paper: build systems that make sensible decisions based on goals, evidence, ...

This refers to a behavioural hypothesis which states that the rational ability of individuals is limited by various factors when it comes to making decisions. A person making a decision may possess ...