MIT 14.271 Industrial Organization I, Fall 2022 - Lecture 21: Bounded Rationality, Part 2

MIT 14.271 Industrial Organization I, Fall 2022 Instructor: Glenn Ellison View the complete course: https://ocw.mit.edu/courses/14-271-industrial-organization-i-fall-2022 YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62xkEY0YzLJSoquVBjPOl9S Glenn Ellison continues the discussion from the previous lecture about bounded rationality. This lecture looks at it from the approach of rule-of-thumb consumers and computational costs. He also looks at models of advertising and how it affects purchasing. License: Creative Commons BY-NC-SA More information at https://ocw.mit.edu/terms More courses at https://ocw.mit.edu Support OCW at http://ow.ly/a1If50zVRlQ We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.