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Simon’s bounded rationality

Author

Listed:
  • Alfio Giarlotta

    (University of Catania)

  • Angelo Petralia

    (University of Catania)

Abstract

This note in the Milestones series is dedicated to the paper “A Behavioral Model of Rational Choice”, written by Herbert Simon and published in 1955 on the Quarterly Journal of Economics.

Suggested Citation

  • Alfio Giarlotta & Angelo Petralia, 2024. "Simon’s bounded rationality," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 47(1), pages 327-346, June.
    • Handle: RePEc:spr:decfin:v:47:y:2024:i:1:d:10.1007_s10203-024-00436-2
    DOI: 10.1007/s10203-024-00436-2
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    References listed on IDEAS

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    More about this item

    Keywords

    Rationality; Bounded rationality; Choice; Satisficing; Aspiration levels; Updating; Testability; Revealed preference; Stochastic choice; Rationality measure;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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