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BOUNDED RATIONALITY IN DECISION-MAKING [PDF]
Challenges of the Knowledge Society, 2019 The purpose of this paper is to study the relationship between rationality and decision making. As a specific objective it will be explained the benefit of learning in the decision making process derived from its results.
José G. VARGAS-HERNÁNDEZ +1 more
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The Rationality Dialogy Between Economics and Psychology
Contemporary Social Sciences, 2016 Economics and psychology take distinct approaches to predicting and formalizing human behavior. Economics focuses on the normative view of rationality, while psychology emphasizes the descriptive nature of rationality.
Jing Qian
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Simulating Systems Thinking under Bounded Rationality
Complexity, 2020 Brian Arthur’s El Farol bar model of bounded rationality provides a simple computer model of decision making in a complex, dynamic, and self-organized environment.
Mark W. Sellers +2 more
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Transparent, simple and robust fast-and-frugal trees and their construction
Frontiers in Human Dynamics, 2022 Today, diagnostic reasoning combines common and specialized knowledge, elements of numeracy, some facility with the basics of probability theory and, last but not least, ease in interactions with AI tools. We present procedures and tools for constructing
Laura Martignon +2 more
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Herbert A. Simon and the concept of rationality: boundaries and procedures
Brazilian Journal of Political Economy, 2010 This paper discusses Herbert A. Simon's conception of rationality in two of its principal general definitions: bounded rationality and procedural rationality.
Gustavo Barros
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An Approximation Theorem for Vector Equilibrium Problems under Bounded Rationality
Mathematics, 2020 In this paper, our purpose is to investigate the vector equilibrium problem of whether the approximate solution representing bounded rationality can converge to the exact solution representing complete rationality.
Wensheng Jia, Xiaoling Qiu, Dingtao Peng
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The number of boundedly rational choices on four elements
MethodsX, 2022 We use a combinatorial approach to identify and compute the number of non-isomorphic choices on four elements that can be explained by several models of bounded rationality.
Alfio Giarlotta +2 more
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Bounded rationality, capital budgeting decisions and small business
, 2020 The purpose of this paper is to provide insight into the capital budgeting decision-making of Canadian and Mexican entrepreneurs in small businesses in the food sector.
Jaime A Morales Burgos +2 more
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The Role of Accelerator Designs in Mitigating Bounded Rationality in New Ventures
Administrative Science Quarterly, 2018 Using a nested multiple-case study of participating ventures, directors, and mentors of eight of the original U.S. accelerators, we explore how accelerators’ program designs influence new ventures’ ability to access, interpret, and process the external ...
Susan L. Cohen +2 more
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Valuation models and Simon's bounded rationality
Brazilian Journal of Political Economy, 2009 This paper aims at reconciling the evidence that sophisticated valuation models are increasingly used by companies in their investment appraisal with the literature of bounded rationality, according to which objective optimization is impracticable in the
Alexandra Strommer de Farias Godoi
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