Bounded Rationality: The Two Cultures

Konstantinos Katsikopoulos
Netzwerk Plurale Ökonomik, 2014
Level: beginner
Perspective: Behavioral Economics
Topic: Behavior, introductory courses
Format: Lecture
Duration: 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).

Nous soutenir

Ce projet le fruit du travail des membres du réseau international pour le pluralisme en économie, dans la sphère germanophone (Netzwerk Plurale Ökonomik e.V.) et dans la sphère francophone (Rethinking Economics Switzerland / Rethinking Economics Belgium / PEPS-Économie France). Nous sommes fortement attachés à notre indépendance et à notre diversité et vos dons permettent de le rester !