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Difference between Rationality and Bounded Rationality

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AQA, Edexcel, Eduqas, IB, OCR, WJEC

Last updated 21 Mar 2021

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Textbooks have traditionally assumed rationality in the decisions of consumers and businesses. Bounded rationality suggests that consumers and businesses opt to satisfice rather than maximise

Difference between Rationality and Bounded Rationality
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