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Ideas linked to rational choice theory started to appear frequently in the economics literature in the 1960s and 1970s, but the attention given to rationality w

George Akerlof, 2002 Nobel Laureate in Economics argues that: ?Neoclassical theory suggests that poverty is the reflection of low initial endowments of human an

The concept of rationality is the heart of modern economics. Neo-classical theory seems unable to proceed without assuming a rational agent seeking to find the

This book is about bounded rationality and public policy. It is written from the p- spective of someone trained in public economics who has encountered the enor

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by