Consumers can act rationally only to a certain extent. They may have inconsistent, context-dependent preferences, or simply not enough brain-power to evaluate and compare complicated products. Thus the standard model of consumer behavior-which depends upon an ideal market in which consumers are boundlessly rational-is outdated. While behavioral economists have for some time confirmed and characterized these inconsistencies, the logical next step is to look at the implications they have in markets. This is the objective of Bounded Rationality and Industrial Organization . Grounded in key observations in consumer psychology, the book develops non-standard models of "boundedly rational" consumer behavior and embeds them into familiar models of markets. It then rigorously analyzes each model in the tradition of microeconomic theory, leading to a richer, more realistic picture of consumer behavior. The book is structured as a collection of lectures for graduate and advanced undergraduate courses, but will also appeal to readers familiar with the topic, as it advances the current literature in the field. Ran Spiegler's contribution will be a welcome and fresh insight into why real consumers act the way they do, and what this means for the markets they inhabit.