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What is bounded rationality in decision making?

Olivia Davis | 2023-06-05 16:38:31 | page views：1485
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Amelia Turner

Studied at the University of Edinburgh, Lives in Edinburgh, Scotland.
Bounded rationality is the idea that when individuals make decisions, their rationality is limited by the tractability of the decision problem, the cognitive limitations of their minds, and the time available to make the decision.
2023-06-09 16:38:31
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Penelope Gonzales

QuesHub.com delivers expert answers and knowledge to you.
Bounded rationality is the idea that when individuals make decisions, their rationality is limited by the tractability of the decision problem, the cognitive limitations of their minds, and the time available to make the decision.
Bounded rationality - Wikipedia
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