Search results
We did not find results for: herbert a. simon bounded rationality.
Check spelling or type a new query.
We did not find results for: herbert a. simon bounded rationality.
Check spelling or type a new query.
The idea that rationality is limited by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision
Bounded rationality is the idea that rationality is limited when individuals make decisions, and under these limitations, rational individuals will select a decision that is satisfactory rather than optimal. Limitations include the difficulty of the problem requiring a decision, the cognitive capability of the mind, and the time available to make the decision. Wikipedia