The Three Limitations on Human Rationality That Behavioural Economics Emphasizes

question 13

Multiple Choice

The three limitations on human rationality that behavioural economics emphasizes are

• A)bounded rationality,bounded utility,and bounded self-interest.
• B)bounded rationality,bounded willpower,and bounded self-interest.
• C)bounded utility,bounded willpower,and bounded self-interest.
• D)bounded rationality,bounded willpower,and bounded utility.
• E)bounded rationality,bounded surplus,and bounded utility.

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Definitions:

Sociocultural Perspective

Perspective that focuses on the relationship between social behavior and culture; in psychopathology, perspective in which abnormal thinking and behavior (as well as normal) is seen as the product of learning and shaping within the context of the family, the social group to which one belongs, and the culture within which the family and social group exist.

Eurocentric

A worldview that is centered on Western civilization or a biased perspective that favors Western culture and history over those of other cultures.

Evolutionary Psychologist

A professional in psychology who studies how evolutionary theory applies to human behavior and cognitive processes.

Four-Year Colleges

Four-Year Colleges are institutions of higher education that offer undergraduate programs typically leading to a bachelor's degree; they may also offer graduate programs.