Drawing on the differences between the situations of risk, weak uncertainty and strong uncertainty, discuss households’ ability to make key financial decisions, such as managing their assets and liabilities.

July 23, 2023July 23, 2023 Discipline: Economics

must be plagiarism free 

please talk about these topics 

•Rationality

•Risk, weak uncertainty, strong uncertainty

•Bounded rationality



•herbert Simon’s bounded rationality

•Two contemporary interpretations of bounded rationality 

1. Kahneman & Tversky’s heuristics and biases

2.Gigerenzer’s fast and frugal heuristics


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