Modeling Bounded Rationality
Ariel Rubinstein
208 pages, Hardcover
ISBN: 0262181878
ISBN13:
Language: English
Publish: December 1, 1997
The notion of bounded rationality was initiated in the 1950’s by Herbert Simon. In this book the author defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modelling bounded rationality, rather than on substantial economic implications.