Aspects of Bounded Rationality in Resource Use

Marius-Mihai Rusu ()
Additional contact information
Marius-Mihai Rusu: „Stefan cel Mare” University of Suceava, Romania

Ovidius University Annals, Economic Sciences Series, 2024, vol. XXIV, issue 1, 314-317

Abstract: Rationality in economics, corroborated with the idea that human action, essentially economic life, cannot be consumed far from rationality, as it has been analyzed by all economic thinkers, is neither inscribed in the sphere of purity nor is it whole. The evolution of economic science has allowed both positive and counter-ideas of rationality, what is worth emphasizing is the fact that the imperfection of economic rationality has been admitted even by its fiercest defenders. The resources attracted and used, viewed in absolute terms, have increased and diversified continuously, on the other hand, relative to the growth and diversification of needs, resources have been and remain limited. In this sense, people's permanent preoccupation with choosing resources and ranking their use to better satisfy needs is the fundamental problem of organizing any economy. Through this paper, it is proposed to analyze through a bibliographic study, comparing the qualitative causal link between the forms of rationality used in economic science. Rationality in economics arose as a result of the limitation of resources, this concept is practically the essence of economic science.

Keywords: economic rationality; perfect rationality; imperfect rationality; bounded rationality (search for similar items in EconPapers)
JEL-codes: A13 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://stec.univ-ovidius.ro/html/anale/RO/2024i1/Section%203/23.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:314-317

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().