The author defines quasi-rational to include consideration of hunches, intuition, and tacit knowledge often embodied in stories that have meaning to the decision-maker.

What is an example of rational approach?

The idea that individuals will always make rational, cautious and logical decisions is known as the rational choice theory. An example of a rational choice would be an investor choosing one stock over another because they believe it offers a higher return. Savings may also play into rational choices.

What is an example of rationality?

For example, if a person chooses a job with a profile of his liking instead of a high paying job, then it would be also termed as rational behaviour. Quantity theory of money states that money supply and price level in an economy are in direct proportion to one another.