Rationality of human behavior in economics: bounded rationality concept Cover Image

Раціональність поведінки людини в економічній науці: концепція обмеженої раціональності
Rationality of human behavior in economics: bounded rationality concept

Author(s): Ostap Vatamanyuk
Subject(s): Psychology, Political economy
Published by: Національний юридичний університет імені Ярослава Мудрого
Keywords: global (unbounded) rationality; cognitive limitations; bounded rationality; procedural rationality; heuristics; ecological rationality;

Summary/Abstract: The preconditions of nascence and evolution features of bounded rationality notion in modern economics are traced. It is shown that this concept is widely used today when constructing essentially different models. The specifics of bounded rationality interpretation in models of optimization under constraints, behavioral economics, and ecological rationality theory are considered.

  • Issue Year: 3/2018
  • Issue No: 34
  • Page Range: 11-26
  • Page Count: 15
  • Language: Ukrainian