Bounded Rationality: Rule-of-Thumb Consumers and Computational Costs - Lecture 21
Offered By: MIT OpenCourseWare via YouTube
Course Description
Overview
Explore the second part of a lecture on bounded rationality from MIT's Industrial Organization I course. Delve into rule-of-thumb consumer behavior, computational costs, and models of advertising's impact on purchasing decisions. Gain insights from instructor Glenn Ellison as he builds upon concepts from the previous lecture, offering a deeper understanding of how limited rationality influences economic decision-making and market dynamics.
Syllabus
Lecture 21: Bounded Rationality, Part 2
Taught by
MIT OpenCourseWare
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