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- Bounded_rationality abstract "Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision. It was proposed by Herbert A. Simon as an alternative basis for the mathematical modeling of decision making, as used in economics, political science and related disciplines; it complements rationality as optimization, which views decision-making as a fully rational process of finding an optimal choice given the information available. Another way to look at bounded rationality is that, because decision-makers lack the ability and resources to arrive at the optimal solution, they instead apply their rationality only after having greatly simplified the choices available. Thus the decision-maker is a satisficer, one seeking a satisfactory solution rather than the optimal one. Simon used the analogy of a pair of scissors, where one blade is the "cognitive limitations" of actual humans and the other the "structures of the environment"; minds with limited cognitive resources can thus be successful by exploiting pre-existing structure and regularity in the environment.Some models of human behavior in the social sciences assume that humans can be reasonably approximated or described as "rational" entities (see for example rational choice theory, or Downs Political Agency Models). Many economics models assume that people are on average rational, and can in large enough quantities be approximated to act according to their preferences. The concept of bounded rationality revises this assumption to account for the fact that perfectly rational decisions are often not feasible in practice because of the finite computational resources available for making them.".
- Bounded_rationality wikiPageExternalLink book-br.html.
- Bounded_rationality wikiPageExternalLink kahneman.NobelPrize.pdf.
- Bounded_rationality wikiPageExternalLink index.html.
- Bounded_rationality wikiPageExternalLink chapter7.pdf.
- Bounded_rationality wikiPageExternalLink 06%20Ollie.pdf.
- Bounded_rationality wikiPageID "70400".
- Bounded_rationality wikiPageRevisionID "606621375".
- Bounded_rationality hasPhotoCollection Bounded_rationality.
- Bounded_rationality subject Category:Behavioral_economics.
- Bounded_rationality subject Category:Game_theory.
- Bounded_rationality subject Category:Underlying_principles_of_microeconomic_behavior.
- Bounded_rationality type Abstraction100002137.
- Bounded_rationality type Cognition100023271.
- Bounded_rationality type Content105809192.
- Bounded_rationality type Generalization105913275.
- Bounded_rationality type Idea105833840.
- Bounded_rationality type Principle105913538.
- Bounded_rationality type PsychologicalFeature100023100.
- Bounded_rationality type UnderlyingPrinciplesOfMicroeconomicBehavior.
- Bounded_rationality comment "Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision. It was proposed by Herbert A.".
- Bounded_rationality label "Begrenzte Rationalität".
- Bounded_rationality label "Beperkte rationaliteit".
- Bounded_rationality label "Bounded rationality".
- Bounded_rationality label "Racionalidad limitada".
- Bounded_rationality label "Rationalité limitée".
- Bounded_rationality label "Razionalità limitata".
- Bounded_rationality label "Ограниченная рациональность".
- Bounded_rationality label "有限理性".
- Bounded_rationality label "限定合理性".
- Bounded_rationality sameAs Omezená_racionalita.
- Bounded_rationality sameAs Begrenzte_Rationalität.
- Bounded_rationality sameAs Racionalidad_limitada.
- Bounded_rationality sameAs Rationalité_limitée.
- Bounded_rationality sameAs Razionalità_limitata.
- Bounded_rationality sameAs 限定合理性.
- Bounded_rationality sameAs Beperkte_rationaliteit.
- Bounded_rationality sameAs m.0j7yc.
- Bounded_rationality sameAs Q814385.
- Bounded_rationality sameAs Q814385.
- Bounded_rationality sameAs Bounded_rationality.
- Bounded_rationality wasDerivedFrom Bounded_rationality?oldid=606621375.
- Bounded_rationality isPrimaryTopicOf Bounded_rationality.