© 2007

Rationality, bounded rationality and microfoundations

Foundations of theoretical economics

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About this book


This book challenges the generally accepted theories of classical economics, explaining why the expected utility theory, even if it were true, fails to be of much help in solving economic controversies.


bounded rationality economic theory economics macroeconomics utility utility theory

About the authors

REZA SALEH-NEJAD received his MSc and PhD from the London School of Economics and Political Science, UK. Currently he is a research fellow at the HAND Foundation, California. He holds a visiting research position at the National Research Institute for Science Policy in Iran. He has also taught Economics at Cambridge and City University.

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