How Long to Read Bounded Rationality and Behavioural Economics

How Long Does it Take to Read Bounded Rationality and Behavioural Economics?

It takes the average reader 2 hours and 13 minutes to read Bounded Rationality and Behavioural Economics by Graham Mallard

Assuming a reading speed of 250 words per minute. Learn more

Description

Economics Nobel Laureate Herbert Simon developed the concept of bounded rationality in the 1950s. This asserts that the cognitive abilities of human decision-makers are not always sufficient to find optimal solutions to complex real-life problems, leading decision-makers to find satisfactory, sub-optimal outcomes. This was a foundational component of the development of Behavioural Economics but in recent years the two fields have diverged, each with its own literature, its own approach and its own proponents. Behavioural Economics explores the areas of commonality between Economics and Psychology, in terms of its focus and its approach, whereas the bounded rationality literature largely analyses the implications of sub-optimal decision‐making through the mathematically sophisticated methodology of mainstream Economics. This book examines the nature and consequences of this divergence and questions whether this is a case of beneficial specialisation or whether it is unhelpful, potentially stunting the development of some aspects of Economics. It has been suggested that the major deficiency of Behavioural Economics is that it has failed to produce a single, widely applicable alternative to constrained optimisation. This book evaluates the extent to which this is the true and, if it is, the extent to which it is a product of the divergence between the two literatures. It also seeks to identify commonalities between the two subjects and suggests avenues of research in Economics that would benefit from a re-fusion of these two fields.

How long is Bounded Rationality and Behavioural Economics?

Bounded Rationality and Behavioural Economics by Graham Mallard is 132 pages long, and a total of 33,264 words.

This makes it 45% the length of the average book. It also has 41% more words than the average book.

How Long Does it Take to Read Bounded Rationality and Behavioural Economics Aloud?

The average oral reading speed is 183 words per minute. This means it takes 3 hours and 1 minute to read Bounded Rationality and Behavioural Economics aloud.

What Reading Level is Bounded Rationality and Behavioural Economics?

Bounded Rationality and Behavioural Economics is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Bounded Rationality and Behavioural Economics?

Bounded Rationality and Behavioural Economics by Graham Mallard is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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