Deliberation Cost as a Foundation for Behavioral Economics

Authored by: Mark Pingle

Handbook of Contemporary Behavioral Economics

Print publication date:  July  2006
Online publication date:  January  2015

Print ISBN: 9780765613028
eBook ISBN: 9781315703879
Adobe ISBN: 9781317469162


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Once one introduces into the subjective expected utility maximization Eden the snake of boundedness, it becomes difficult to find a univocal meaning of rationality, hence a unique theory of how people will, or should, decide. Economics, and the social sciences generally, will never have the certainty of natural science.

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