Econ 478b. Bounded Rationality

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Day / time: 
W 9:25 - 11:15am
Course Type: 
Undergraduate
Course term: 
Spring
Not offered
Year: 
2015

Permission of instructor required

Introduction to decision theory, which emphasizes the limitations individuals face when making economic decisions. The imperfect ability of decision makers to reason and remember, to calculate with precision, and to ignore the context or framing of a problem. Defining economic rationality; deviations from rationality and their influence on markets; approaches to modeling bounded rationality.

Prerequisite: ECON 121, 125, or equivalent.

Undergrad Course Category: 
Microtheory