In Bounded Rationality and Politics, Jonathan Bendor considers two schools of behavioral economicsthe first guided by Tversky and Kahneman s work on heuristics and biases, which focuses on the mistakes people make in judgment and choice; the second as described by Gerd Gigerenzer s program on fast and frugal heuristics, which emphasizes the effectiveness of simple rules of thumb. Finding each of these radically incomplete, Bendor s illuminating analysis proposes Herbert Simon s pathbreaking work on bounded rationality as a way to reconcile the inconsistencies between the two camps....

In Bounded Rationality and Politics, Jonathan Bendor considers two schools of behavioral economicsthe first guided by Tversky and Kahneman s work on heuristics and biases, which focuses on the mistakes people make in judgment and choice; the second as described by Gerd Gigerenzer s program on fast and frugal heuristics, which emphasizes the effectiveness of simple rules of thumb. Finding each of these radically incomplete, Bendor s illuminating analysis proposes Herbert Simon s pathbreaking work on bounded rationality as a way to reconcile the inconsistencies between the two camps....