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- W185644319 abstract "The ‘Savage Paradigm’ of rational decision making under uncertainty has become the dominant model of individual human behavior in mainstream economics, and is an integral part of most of game theory today. However, this model has been criticized as inadequate from both normative and descriptive viewpoints. The various strands of this critical movement form the topic known as ‘bounded rationality.’ This article sketches the historical roots and some current developments of this movement, distinguishing between attempts to extend the Savage Paradigm (‘costly rationality’) and the need for more radical departures (‘truly bounded rationality’)." @default.
- W185644319 created "2016-06-24" @default.
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- W185644319 date "2001-01-01" @default.
- W185644319 modified "2023-09-26" @default.
- W185644319 title "Bounded and Costly Rationality" @default.
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- W185644319 doi "https://doi.org/10.1016/b0-08-043076-7/00627-6" @default.
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