Open AccessBounded financial rationality by owners or administrators of mexican micro-enterprises
Author(s) -
Pablo Daniel Palacios Duarte,
Alfredo Pérez-Paredes,
Amado Torralba-Flores
Publication year - 2019
Publication title -
cuadernos de administración/cuadernos de administración
Language(s) - English
Resource type - Journals
eISSN - 2256-5078
pISSN - 0120-4645
DOI - 10.25100/cdea.v35i64.6355
Subject(s) - rationality , bounded rationality , situational ethics , analogy , intuition , perception , finance , economics , sample (material) , categorization , business , microeconomics , psychology , social psychology , computer science , epistemology , artificial intelligence , philosophy , chemistry , chromatography , neuroscience , cognitive science
The Limited Financial Rationality by Owners or Administrators of Mexican Micro-Enterprises work aims to evaluate the rationality limited per responsible individual subjected to choosing the direction to follow that allows survival in the market. Empirical research is based on a data collection instrument applied to a sample of microenterprises. The main objective is to hierarchically categorize behaviors, ideas and orientations that explain rational construction by owners or managers towards financial decision making. Our contribution is the construction of a behavioral map by micro-entrepreneurs under two financial rationalities, strong and weak, determined by the learning curve (learning by doing). Where the model did prove that limited financial rationality is positively influenced by business maturity explained by the analogy between intuition and the financial situational perception of the microentrepreneur, which is guided by learning, knowledge, risk aversion and is not only defined by the business scale.