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Extending the Bounded Rationality Model: The Distributed Cognition Approach

Author

Listed:
  • Secchi Davide

    (Department of Economics, University of Insubria, Italy)

  • Bardone Emanuele

    (Department of Philosophy, Computational Philosophy Laboratory, University of Pavia)

Abstract

The way Simon, and the major part of the scholars, presented and used bounded rationality directly refers to human computational capabilities (or “brute-force”). Despite its broad powers of explanation, some problems arise when taking into account the way the human cognitive system really works. In order to avoid these problems, we present an alternative model of rationality, where computation plays only a part, together with the implemented role of external resources, emotional and other non-strictly-rational variables.

Suggested Citation

  • Secchi Davide & Bardone Emanuele, 2005. "Extending the Bounded Rationality Model: The Distributed Cognition Approach," Economics and Quantitative Methods qf0506, Department of Economics, University of Insubria.
    • Handle: RePEc:ins:quaeco:qf0506
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    File URL: https://www.eco.uninsubria.it/RePEc/pdf/QF2005_9.pdf
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    Cited by:

    1. Secchi Davide, 2005. "Altruism and Selfish Behavior. The Docility Model Revisited," Economics and Quantitative Methods qf0505, Department of Economics, University of Insubria.
    2. Fanelli Luca & Paruolo Paolo, 2006. "Exchange rates, prices and their speed of adjustment," Economics and Quantitative Methods qf0607, Department of Economics, University of Insubria.

    More about this item

    Keywords

    bounded rationality; distributed cognition; external resources; decision-making; problem solving; emotions;
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