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AUTHORS: Bashir Ahmad Joo, Kokab Durri 2019
This paper discusses Herbert A. Simon’s conception of rationality in two of its principal general definitions: bounded rationality and procedural rationality.
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Volume 2: Behavioural Economics and Business Organization: 1982 (reprinted 1983), Cambridge, MA: MIT Press. 0000008698 00000 n
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study could identify the five main psychological traits including the newly
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affect the investors’ rational behavior in the stock market decisions. out there, without inferring and building theory.
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Offering alternative models based on such concepts as satisficing (acceptance of viable choices that may not be the undiscoverable optimum) and bounded rationality (the limited extent to which rational calculation can direct human behavior), Simon shows concretely why more empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, is …
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investment decisions and as such it is must for stakeholders to have an idea of
these biases. identifying portfolio anomalies that can be explained by various psychological
significant psychological traits and all these variables collectively explain
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Bounded rationality has come to broadly encompass models of effectivebehavior that weaken, or reject altogether, the idealized conditionsof perfect rationality assumed by models of economic man.
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In thissection we state what models of economic man are committed to andtheir relationship to expected utility theory.
has been cited by the following article: ABSTRACT: Over the years it has been noted that investors
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has been cited by the following article: ABSTRACT: Over the years it has been noted that investors