Keyword: optimization

Advantage vs Behavior (7/7/2006)

Theory of advantage is not theory of behavior.

Keywords: advantage behavior, Boulding, consumer behavior, marginal benefit, marginal cost, marginal optimizer, marketing, optimization

Choice Paralysis (9/2/2005)

Too many choices might lead to decision paralysis due to information overload.

Keywords: choices, decision, information overload, optimization, paralysis

Maximization and Optimization at the Margin (7/7/2006)

Optimizing at the margin can bring about static economic efficiency.

Keywords: average benefit, entry, margin, marginal benefit, marginal cost, marginal revenue, Maximization, MB, MC, MR, optimization, pollution, profit, single pricing, tragedy of the commons

The Origin of Predictable Behavior (11/5/1999)

Economic behavior is predictable largely because bounded rationality leads people to adopt rules of thumb which display greater regularity than does optimization.

Keywords: behavior, bounded rationaltiy, flexibility, institutions, optimization, predictability, rationality, regularity, reliability condition, rules, sunk costs, uncertainty