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- Max Planck Institute for Human Development, Berlin

Dates:July 15-22, 2009
Description:Summer Institute on Bounded Rationality in Psychology and Economics
Location:Berlin, Germany
Subject:The Summer Institute on bounded rationality in psychology and economics intends to provide a view of human rationality that is anchored in the psychological possibilities of actual humans rather than in the fictional construct of Homo economicus. The common view of economic theory and the traditional definitions of rationality employed in psychology, cognitive science, biology and other fields are mostly based on a vision of human decision making that is psychologically implausible. Economic agents, for instance, are conceptualized as fully rational Bayesian maximizers of expected utility who are assumed to behave as if equipped with unlimited knowledge, time, and information-processing power. The influence of emotions on decision making is also often ignored. [gem╠_╠┘ den Informationen des Anbieters - according to site editor's information]
JEL Code:Z
URL:http://www.mpib-berlin.mpg.de/en/research/adaptive-behavior-and-cognition/summer-institute-2011/previous-years

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