Bounded Rationality: The Two Cultures

Level: leicht
Konstantinos Katsikopoulos | Netzwerk Plurale Ökonomik, 2014

Perspektive: Verhaltensökonomik
Thema: Einführungskurse, Verhalten
Format: Vorlesung, Dauer: 01:08:38
Link: https://www.youtube.com/watch?v=35tXytX9zzM&index=7&list=PLHcX3MybUIx5ErLBD-05XMmbc9pyj1nn2

In this lecture, Konstantinos Katsikopoulos presents the concept of bounded rationality and contrasts two - as he calls it - cultures of research and analysis within Behavioral Economics: an "idealistic" and a "pragmatic" approach. Thereby, Katsikopoulos discusses amongst others their different assumptions on decision making (utility optimization vs. achievement of a satisfactory outcome), the psychological process as well as the epistemic aim and implications on policy recommendations (nudging vs. education).