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Book Synopsis
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 t

Bounded Rationality Heuristics Judgment and

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    A Paperback / softback by Sanjit Dhami, Cass R. Sunstein

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      Publisher: MIT Press Ltd
      Publication Date: Publication Date: 12/07/2022
      ISBN13: 9780262543705, 978-0262543705
      ISBN10: 0262543702
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      Political science and theory

      Description

      Book Synopsis
      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 t

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