The DOI matches its Crossref record; 8 of the 11 references it cites were found in a registry or an index.
Bounded Rationality
Abstract
The term ‘bounded rationality’ is used to designate rational choice that takes into account the cognitive limitations of the decision-maker — limitations of both knowledge and computational capacity. Bounded rationality is a central theme in the behavioural approach to economics, which is deeply concerned with the ways in which the actual decision–making process influences the decisions that are reached.
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“Despite their reputation for undermining optimal decision-making, biases can actually reflect optimal decisions within a particular socio-environmental context under cognitive constraints such as memory, computation or experience [98][99][100][101][102] .”
From Machine culture (2023) · cites this paper as [99]
In the citing paper
“Irrespective of their origin, the effects of biases on culture tend to strengthen through repeated transmission 99,104,105 .”
From Machine culture (2023) · cites this paper as [99]
Citations
Cites
An Evolutionary Theory of Economic Change
Berkowitz, M. K., Nelson, R. R., & Winter, S. G. (1983) · Southern Economic Journal · doi:10.2307/1058233 · Cited by 10,888
A Behavioral Theory of the Firm
Day, R. H., Cyert, R. M., March, J. G., Clarkson, Cohen, Feigenbaum, D., Greenberg, Moore, Soelberg, Starbuck, et al. (1964) · Econometrica · doi:10.2307/1913056 · Cited by 8,023
Williamson, O. E. (1975) · Cited by 6,810
A Behavioral Theory of the FirmPreprint
Cyert, R. M., & March, J. G. (1963) · SSRN Electronic Journal · Cited by 6,490
Newell, A. (1972) · Cited by 6,222
Simon, H. A. (1997) · The MIT Press eBooks · doi:10.7551/mitpress/4711.001.0001 · Cited by 4,900
Self-citationThe Foundations of Statistics.
Good, I. J., & Savage, L. J. (1955) · Journal of the Royal Statistical Society Series A (General) · doi:10.2307/2343133 · Cited by 4,764
Judgment and choice: The psychology of decision
Goitein, B. J. (1989) · International Journal of Forecasting · doi:10.1016/0169-2070(89)90072-1 · Cited by 209
Cited by
Sorted by citations
Unbiased Scene Graph Generation From Biased Training
Tang, K., Niu, Y., Huang, J., Shi, J., & Zhang, H. (2020) · IEEE Computer Society Conference on Computer Vision and Pattern Recognition/Proceedings - IEEE Computer Society Conference on Computer Vision and Pattern Recognition/Proceedings · doi:10.1109/cvpr42600.2020.00377 · Cited by 810
Redundancy and reduction: Speakers manage syntactic information density
Jaeger, T. F. (2010) · Cognitive Psychology · doi:10.1016/j.cogpsych.2010.02.002 · Cited by 728
Cognitive computational neuroscience
Kriegeskorte, N., & Douglas, P. K. (2018) · Nature Neuroscience · doi:10.1038/s41593-018-0210-5 · Cited by 535
Phillips-Wren, G. E., & Adya, M. P. (2020) · Journal of Decision System · doi:10.1080/12460125.2020.1768680 · Cited by 327
Supply disruption management under consumer panic buying and social learning effects
Zheng, R., Shou, B., & Yang, J. (2021) · Omega · doi:10.1016/j.omega.2020.102238 · Cited by 193
Metadata
- Authors
- Simon, H. A.
- Corresponding author
- Simon, Herbert A.
- Venue
- Utility and Probability
- Publisher
- Palgrave Macmillan UK
- Published
- 1990
- Pages
- 15-18
- OpenAlex
- W4249761288
- Cited by
- 705
- References
- 11
- Citations by year
- 2026: 68 · 2025: 100 · 2024: 113 · 2023: 105 · 2022: 96 · 2021: 66 · 2020: 66 · 2019: 12 · 2018: 5 · 2017: 7 · 2016: 7 · 2015: 7 · 2014: 5 · 2013: 4 · 2012: 3
- FWCI
- 4.16
- Type
- book chapter
- Language
- en
- Open access
- closed
- Locations
- Palgrave Macmillan UK eBooks (publishedVersion)
- Topics
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Experimental Behavioral Economics Studies
- Keywords
- bounded rationality, rational choice, cognitive limitations, computational power, behavioral economics, decision-making, limits of knowledge
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