In this lecture, Konstantinos Katsikopoulos presents the concept of bounded rationality and contrasts two - as he calls it - cultures of research and analysis within Behavioral Economics: an "idealistic" and a "pragmatic" approach. Thereby, Katsikopoulos discusses amongst others their different assumptions on decision making (utility optimization vs. achievement of a satisfactory outcome), the psychological process as well as the epistemic aim and implications on policy recommendations (nudging vs. education). 2014 Level: beginner Bounded Rationality: The Two Cultures Konstantinos Katsikopoulos Netzwerk Plurale Ökonomik Antoine Godin gives a bright, illustrated, introduction to agent-based, stock-flow-consistent modeling, with a clear focus on the agent-based aspect. 2016 Level: advanced Introduction to Agent-Based Stock-Flow Consistent Modelling Antoine Godin IMK This lecture is all about the challenge to include heterodox approaches into macroeconomics. After giving an overview of recent approaches to that problem Professor Michael Roos presents the theoretical framework of Complexity Economics as a means to combine behavioral aspects with macroeconomics. 2016 Level: advanced Behavioural and Complexity Macroeconomics Michael Roos IMK How do people make decisions? There is a class of models in psychology which seek to answer this question but have received scant attention in economics despite some clear empirical successes. In a previous post I discussed one of these, Decision by Sampling, and this post will look at another: the so-called Fast and Frugal heuristics pioneered by the German psychologist Gerd Gigerenzer. Here the individual seeks out sufficient information to make a reasonable decision. They are ‘fast’ because they do not require massive computational effort to make a decision so can be done in seconds, and they are ‘frugal’ because they use as little information as possible to make the decision effectively. 2020 Level: beginner Bounded Rationality: the Case of ‘Fast and Frugal’ Heuristics Cahal Moran Rethinking Economics Jason Collins explains how his evolutionary approach to decision making relates to other approaches of behaviour This piece therefore not only serves as a good introduction to this evolutionary approach but also serves as a great introduction to these other approaches of behaviour namely neoclassical perfect rationality which involves mainly … 2015 Level: beginner Please, not another bias! An evolutionary take on behavioural economics. Jason Collins www.jasoncollins.blog Think Academy Think Academy Level: advanced Complexity Economics Think Academy Think Academy When Santa Fe Institute Scientists first started working on economics more than thirty years ago, many of their insights, approaches, and tools were considered beyond heterodox. These once-disparaged approaches included network economics, agents of limited rationality, and institutional evolution—all topics that are now increasingly considered mainstream. 2020 Level: expert Complexity Economics W. Brian Arthur, Eric Beinhocker, and Allison Stanger Santa Fe Institue Press