Please use this identifier to cite or link to this item: http://hdl.handle.net/2381/43877
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dc.contributor.authorDhami, S-
dc.contributor.authoral-Nowaihi, A-
dc.contributor.authorSunstein, C-
dc.date.accessioned2019-04-25T13:51:19Z-
dc.date.issued2019-
dc.identifier.citationStudies in Microeconomics, 2019, In Pressen
dc.identifier.issn2321-0222-
dc.identifier.uriTBAen
dc.identifier.urihttp://hdl.handle.net/2381/43877-
dc.descriptionThe file associated with this record is under embargo until publication, in accordance with the publisher's self-archiving policy. The full text may be available through the publisher links provided above.en
dc.description.abstractHow do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality approach in economics do not hold? Do human beings optimize, or can they? Several decades of research have shown that people possess a toolkit of heuristics to make decisions under certainty, risk, subjective uncertainty, and true uncertainty (or Knightian uncertainty). We outline recent advances in knowledge about the use of heuristics and departures from Bayesian rationality, with particular emphasis on growing formalization of those departures, which add necessary precision. We also explore the relationship between bounded rationality and libertarian paternalism, or nudges, and show that some recent objections, founded on psychological work on the usefulness of certain heuristics, are based on serious misunderstandings.en
dc.language.isoenen
dc.publisherSAGE Publications (UK and US)en
dc.rightsCopyright © 2019, SAGE Publications (UK and US). Deposited with reference to the publisher’s open access archiving policy. (http://www.rioxx.net/licenses/all-rights-reserved)en
dc.titleHeuristics and Public Policy: Decision Making Under Bounded Rationalityen
dc.typeJournal Articleen
dc.identifier.doiTBA-
dc.description.statusPeer-revieweden
dc.description.versionPost-printen
dc.type.subtypeArticle-
pubs.organisational-group/Organisationen
pubs.organisational-group/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIESen
pubs.organisational-group/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/School of Businessen
dc.rights.embargodate10000-01-01-
dc.dateaccepted2019-02-01-
Appears in Collections:Published Articles, School of Management

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