Hermann Brandstätter (Jahannes-Kepler-Universität Linz, Abteilung für Sozial- und Wirtschaftspsychologie, Linz-Auhof) Werner Güth (Max Planck Institute for Research, into Economic Systems, Strategic Interaction Group, Jena, Germany) Hartmut Kliemt (Universität Duisburg-Esse, Standort Duisburg, Fach Philosophie, Duisburg, Germany)
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This paper brings together views on choice making as have been developed in philosophy, psychology, and economics. Starting from specific examples the relative merits of different approaches are discussed. The conclusion that models of boundedly rational behavior are the future of social science research is strongly endorsed. But we also admit that it is not completely clear what this implies and take the liberty to speculate on where future research might go.
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Article provided by Institute of SocioEconomics in its journal Homo Oeconomicus.
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