A Classroom Experiment on the Causes and Forms of Bounded Rationality in Individual Choice

Autor/inn/en	Bennato, Anna Rita; Gourlay, Adrian; Wilson, Chris M.
Titel	A Classroom Experiment on the Causes and Forms of Bounded Rationality in Individual Choice
Quelle	In: Journal of Economic Education, 51 (2020) 1, S.31-41 (11 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2019.1687374
Schlagwörter	Economics Education; Microeconomics; Educational Experiments; Class Activities; College Instruction; Undergraduate Students + Suchen Sie Ihr Suchwort? Wirtschaftskunde; Mikroökonomie; Schulversuch; Hochschullehre
Abstract	Bounded rationality is a key concept with implications across all areas of economics. To help students better understand the nature, causes and forms of bounded rationality in individual choice, the authors present a flexible classroom experiment. Beyond providing students with some first-hand evidence of bounded rationality, the experiment shows how a range of factors can prompt bounded rationality and illustrates how it can manifest itself in the form of different behaviors. The experiment can be conducted with any number of students and takes approximately 30 minutes to conduct, with a further 10 to 20 minutes to reflect and debrief. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01