Theories of Bounded Rationality.¶
Simon, H. A. 1. (1972). Theories of Bounded Rationality. Decision and Organization.
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Primes¶
- Bounded Rationality
- Second, the binding constraints — whether cognitive, informational, temporal, or attentional — must be identified, since not all limits constrain equally at a given decision point.
This sourceFoundational typology of bounded-rationality theories; supports the claim that full enumeration/optimization is infeasible due to complexity intrinsic to the problem, and the need to identify binding constraints.
- Second, the binding constraints — whether cognitive, informational, temporal, or attentional — must be identified, since not all limits constrain equally at a given decision point.
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