A classroom experiment on the causes and forms of bounded rationality in individual choice

Volume: 51, Issue: 1, Pages: 31 - 41
Published: Jan 2, 2020
Abstract
Bounded rationality is a key concept with implications across all areas of economics. To help students better understand the nature, causes and forms of bounded rationality in individual choice, the authors present a flexible classroom experiment. Beyond providing students with some first-hand evidence of bounded rationality, the experiment shows how a range of factors can prompt bounded rationality and illustrates how it can manifest itself in...
Paper Details
Title
A classroom experiment on the causes and forms of bounded rationality in individual choice
Published Date
Jan 2, 2020
Journal
Volume
51
Issue
1
Pages
31 - 41
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