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Economics

Student Videos

Difference between Rationality and Bounded Rationality

Level:
AS
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

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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