Reasoning the Fast and Frugal Way Models of Bounded Rationality Form

Instructions and help about Reasoning The Fast And Frugal Way Models Of Bounded Rationality

in this video I would like to talk a little bit more about the decision making and we are going to see a sort of three different ways how we make decisions or how do we consider that other people are making decisions so at first we will talk about the irrational model and let me just change my brush so the first will be the rational model then we will have bounded rationality and finally we will have an intuition so let's see you can see the rational model I have described over here then we have our bounded rationality and finally our intuition and you will see that there is some sort of a logic why I have chosen it uh to go this way so let's start with the irrational model so that we often think the best decision maker is a rational is a rational consistent while making value maximizing choices this follows a rational decision-making model which we have right over here this is the rational decision making model however as you will see we are relying on assumptions and that is the big