Results 281 to 290 of about 117,785 (328)

The Bounded Rationality Theory, the Rational Choice Theory or the Methodological Individualism

Journal des Economistes et des Etudes Humaines, 2004
The bounded rationality theory (BRT) has been perceived by social scientists as a more flexible version of the rational choice theory (RCT), also called expected utility theory. The former has the avantage of taking into consideration the fact that information is generally costly. It corrects the RCT on an important point.
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Forms of Bounded Rationality in Economic Theory

Rivista italiana degli economisti, 2011
In this work the theory of nonlinear dynamical systems is applied to economic and financial models where agents are characterized by bounded rationality.
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Semi-normative theories based on bounded rationality

Journal of Economic Psychology, 1992
Abstract An attempt is made to classify descriptive economic theories by various qualitative properties. To close the gap between normative and descriptive theories one can not only postulate a good descriptive quality of a normative theory but also sufficient normative qualities of a descriptive theory.
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Bounded Rationality in Choice Theory: A Survey

Journal of Economic Literature
A vibrant literature incorporates elements of bounded rationality into choice theory. We survey this work, discussing five central ways in which the literature has modeled departures from the rational choice procedure. We discuss the variety of purposes axiomatic choice characterizations serve for these positive theories, delve into experimental tests,
Geoffroy de Clippel, Kareen Rozen
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Prospect balancing theory: Bounded rationality of drivers’ speed choice

Accident Analysis & Prevention, 2014
This paper introduces a new approach to model the psychological determinants of drivers' speed choice: prospect-balancing theory. The theory transfers psychological insight into the bounded rationality of human decision-making to the field of driving behaviour.
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BRINK: Initial theory on bounded rationality and inconsistent knowledge

2012 IEEE 11th International Conference on Cognitive Informatics and Cognitive Computing, 2012
The theory of bounded rationality takes into consideration the cognitive limitations of decision makers in accomplishing their goals and emphasizes on satisficing behaviors when searching for solutions. One of the hallmarks of rational behaviors in decision-making process is embodied in how to cope with inconsistency.
Du Zhang, Mehmet A. Orgun
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Digital “x”:Beyond Bounded Rationality, Toward a Theory of Bounded Imagination [PDF]

, 2019
Digital is increasingly affixed to known concepts across different management disciplines – for example digital innovation, digital disruption digital strategy – in essence digital “x”. We advance the theory of bounded imagination as a conceptual lens for illuminating conceptualization of digital “x”, and a delineation between digital from digitization
Rosenstand, Claus Andreas Foss; id_orcid 0000-0001-5240-9922, Baiyere, Abayomi   +1 more
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ACTS Theory: Extending the Model of Bounded Rationality

1998
In this paper we propose an extension to the traditional model of bounded rationality and incorporate the extended model into a theory of organizational behavior. We argue that organizations are collections of tasks and intelligent agents engaged in performing those tasks, both situated within an organizational setting.
Carley, Kathleen, Prietula, Michael J
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Semi-Normative Properties of Bounded Rational Bargaining Theories

1988
It is postulated that descriptive bargaining theories should have semi-normative properties. They concern the influence of tactical variables, the first demand or the conflict threat; on the agreement. A computer simulation shows that the dynamic aspiration balance theory has some semi-normative properties such as the convexity of the payoff profile ...
Reinhard Tietz, Werner Daus, Jürgen Lautsch, Peter Lotz   +3 more
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Conventions in Herbert Simon’s theory of bounded rationality

Journal of Economic Psychology, 2009
This paper offers a reconstruction of Herbert Simon’s decision theory from the conventionalist point of view. It is argued that Simon defined two types of conventions in organizational settings: the first one was specified as a set of customary rules in the workplace, the second one as a shared cognitive model of reality.
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