What is Bounded Rationality? Paper prepared for the Dahlem Conferen
AbstractThe paper deals with bounded rationality understood in the tradition of H.A. Simon. Fundamental problems and theoretical issues are discussed. Special emphasis is put on aspiration adaptation theory. Further remarks concern basic models of decision behavior (like learning and expectation formation), reasoning, and the connection between bounded rationality and motivation.
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Bibliographic InfoPaper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number 454.
Date of creation: May 1999
Date of revision:
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Bounded rationality; learning; aspiration adaptation theory;
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