Beschreibung
The dominant hypothesis in mainstream economics is the assumption of
prefect rationality. However, there are two dilemmas: Whenever this
assumption was used empirical evidence turned out to be against it.
Secondly, this assumption is far from reality, for example, because
individuals usually do not possess all relevant information. Therefore,
this volume addresses issues of bounded rationality in different areas.
The first part investigates bounded rationality in financial markets, the
second part investigates the effects of bounded rationality on industrial
organizations and the third part deals with bounded rationality in price
theory, environmental economics and public management.
