Additionally, the field of behavioural economics/ operations is dominated by experimental approaches, equation modelling, and literature reviews; while these methods have provided solid foundations, they encoun
Free Essay: Dan Ariely, the author of «Predictably Irrational», conducted a comprehensive research related to human behaviour and its influence on our...
equally constrained by the bounded rationality reflected in the cognitive limitations of the decision maker. In this sense, both can be ecologically rational, as long as “it turns out that the behaviour prescribed is well adapted to its goals—whatever those goals might be” (Simon1993: 393)....
Additionally, the field of behavioural economics/ operations is dominated by experimental approaches, equation modelling, and literature reviews; while these methods have provided solid foundations, they encounter issues of incomplete explanations of real-world behaviour, particularly when compared with the ...