Synopsis
This volume presents the concepts and models used in the field of behavioral economics, whilst offering a series of experimental studies that document the forms, the effects and the maginitude of bounded rationality in the formation of expectations.
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Review
'To a significant extent, the book is at the cutting edge of much economic thinking in microeconomics... it brings together nicely material on uncertainty, expectations and cognitive limitations and relates this to recent work in experimental economics.'- Geoffrey M. Hodgson, University of Hertfordshire, UK'For more than 200 years, economists have debated the microfoundations of their science. There is only one way forward and that is to carefully examine the nature and the rationality of decision processes. Professor Rotheli's book is unique. He offers an idiosyncratic blend of theoretical analysis and experimental research that enlightens and provokes.'- --Werner F.M. De Bondt, DePaul University, US
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