Please read all materials and listen to or read the transcript of “Cobra Effect” (Freakonomics).

The Boundaries of Rationality

Compare and contrast key tenets of the models of “full rationality” that underpins neoclassical economics, and “bounded rationality” as discussed by Bryan Jones. What are the most important differences in these two models? Under what circumstances might one or the other model be a more appropriate means of conceptualizing human behavior?

Make reference not only to the case (and your thoughts about it) but also to the course readings.

note: I have included the article and link of the podcast

https://freakonomics.com/podcast/the-cobra-effect-…