Models of Bounded Rationality

Download or Read eBook Models of Bounded Rationality PDF written by Univ Of Chicago and published by Mit Press. This book was released on 1997-07 with total page 336 pages. Available in PDF, EPUB and Kindle.

Author	: Univ Of Chicago
Publisher	: Mit Press
Total Pages	: 336
Release	: 1997-07
ISBN-10	: 0262519437
ISBN-13	: 9780262519434
Rating	: 4/5 (37 Downloads)

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Book Synopsis Models of Bounded Rationality by : Univ Of Chicago

Book excerpt: Offering alternative models based on such concepts as satisficing(acceptance of viable choices that may not be the undiscoverableoptimum) and bounded rationality (the limited extent to which rationalcalculation can direct human behavior), Simon shows concretely whymore empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, isneeded.

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