Complex sentence: The idea that human beings are rational and human behaviour is guided by reason is an old one, however recent research (on Satisficing for example) has significantly undermined the idea of homo economicus or of perfect rationality in favour of a more bounded rationality.
Split into simpler sentences: The idea that human beings are rational and human behaviour is guided by reason is an old one. However, recent research (on Satisficing for example) has significantly undermined the idea of homo economicus or of perfect rationality in favour of a more bounded rationality.