Podcast
Questions and Answers
What is the basis of Cognitive BE, according to the given text?
What is the basis of Cognitive BE, according to the given text?
- Integrating rationality into economic models
- Market as the perfect allocative mechanism
- Individualism and consequentialism
- Herbert Simon's concept of bounded rationality (correct)
What are the two definitions of rational behavior, as per the text?
What are the two definitions of rational behavior, as per the text?
- Adoption of means to achieve an objective and mathematical normative models
- Substantial rationality and maximizing expected utility
- Achievement of best possible result and selfishness
- Procedural rationality and consistent time preferences (correct)
What is NET (Neoclassical Economic Theory) based on, according to the given text?
What is NET (Neoclassical Economic Theory) based on, according to the given text?
- Selfishness
- Maximization of Expected Utility
- Bayesian probability operators
- Substantial Rationality (correct)
Can the economic agent be rational if he takes a procedural behavior, according to the text?
Can the economic agent be rational if he takes a procedural behavior, according to the text?
What does Satisficing behavior imply, according to the text?
What does Satisficing behavior imply, according to the text?
What are the main assumptions of SEM (Standard Economic Models), as per the text?
What are the main assumptions of SEM (Standard Economic Models), as per the text?
What is Loss aversion?
What is Loss aversion?
What are the two anomalies that can be explained with Loss aversion?
What are the two anomalies that can be explained with Loss aversion?
What is the Extremeness aversion?
What is the Extremeness aversion?
What is the Preference reversal given the context?
What is the Preference reversal given the context?
What is Assymetric dominance?
What is Assymetric dominance?
What is the Similarity effect?
What is the Similarity effect?
What is Cooperative game?
What is Cooperative game?
What is the difference in Nash Equilibrium of Prisoner's Dilemma in finitely repeated and infinitely repeated games?
What is the difference in Nash Equilibrium of Prisoner's Dilemma in finitely repeated and infinitely repeated games?
What is Edgeworth model of social utility?
What is Edgeworth model of social utility?
What is Simon’s Bounded Rationality?
What is Simon’s Bounded Rationality?
