Behavioural Economics - Bounded Rationality I A Level and IB Economics

Bounded rationality is the idea that the cognitive, decision-making capacity of humans cannot be fully rational because of a number of limits that we face. These limits include:

#aqaeconomics #ibeconomics #edexceleconomics

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[bobvance]

But are we willing to assume that an irrational decision-maker isn't also trying to make as rational a decision as possible?

[AppleCrispy]

Thank you, this was straight to the point.