This book is not available to purchase on Fable
Bounded Rationality: Heuristics, Judgment, and Public Policy
ByPublisher Description
Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government.
Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections.
After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections.
After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Download the free Fable app
Stay organized
Keep track of what you’re reading, what you’ve finished, and what’s next.
Build a better TBR
Swipe, skip, and save with our smart list-building tool
Rate and review
Share your take with other readers with half stars, emojis, and tags
Curate your feed
Meet readers like you in the Fable For You feed, designed to build bookish communitiesStay organized
Keep track of what you’re reading, what you’ve finished, and what’s next.Build a better TBR
Swipe, skip, and save with our smart list-building toolRate and review
Share your take with other readers with half stars, emojis, and tagsCurate your feed
Meet readers like you in the Fable For You feed, designed to build bookish communitiesNo Reviews
Start a Book Club
Start a public or private book club with this book on the Fable app today!FAQ
Why can’t I buy this ebook on Fable?
Can I start a book club with this book on Fable?
Are book clubs free to join on Fable?
