Examples of 'bounded rationality' in a sentence
Meaning of "bounded rationality"
Bounded rationality refers to the idea that individuals make decisions based on limited information and cognitive capabilities, resulting in suboptimal choices in complex situations
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- A model of human behaviour which states that individuals often make decisions that are merely adequate rather than optimal.
How to use "bounded rationality" in a sentence
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bounded rationality
Bounded rationality is a central theme in behavioral economics.
Simon introduced the idea of bounded rationality.
Bounded rationality has important implications for policy design.
He coined the terms bounded rationality and satisficing.
Policing contracts in a world of uncertainty and bounded rationality.
He invented the terms bounded rationality and satisficing.
My findings suggest that retail investors have bounded rationality.
Bounded rationality means prudent behaviour under a given set of circumstances.
Inductive reasoning and bounded rationality.
Bounded rationality refers to behaviour that is rational but only limitedly so.
He referred to this approach as bounded rationality.
Bounded rationality can increase transaction costs in situations of complexity and uncertainty.
Gabaix continues to work on bounded rationality.
Theories of bounded rationality relax one or more assumptions of standard expected utility theory.
It is thus heavily focused on bounded rationality.
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How does bounded rationality work for the typical individual?
Some individuals have a bounded rationality.
Bounded rationality implicates the idea that humans take shortcuts that may lead to suboptimal decision-making.
They are models of bounded rationality.
These decisions rely on computations of profits and utilities in a context of bounded rationality.
Herbert Simon was thinking of Bounded Rationality as an idea for economic decision making.
Transaction cost economics recognizes that individuals exhibit bounded rationality.
Herbert A. Simon proposed bounded rationality as an alternative basis for the mathematical modeling of decision-making.
This analysis is carried in the frameworks of complete and bounded rationality.
Chapter 5, Bounded rationality and private information.
These models presume either no rationality or bounded rationality on the part of players.
A more realistic approach to rationality takes into account these limitations, This is called bounded rationality.
These fashions presume both no rationality or bounded rationality on the a part of gamers.
The notion of rationality must be understood in a broad sense, including constrained and bounded rationality.
That 's the bounded part of bounded rationality.
The main concepts in use are diffusion, cascade and bounded rationality.
The rational factors identified were, rational choice, bounded rationality and value maximization.
Macroeconomic modeling doesn't ignore bounded rationality.
This is an extreme version of Simon 's bounded rationality.
Moral satisficing, Rethinking moral behavior as bounded rationality.
A perspective on judgment and choice, Mapping bounded rationality.
Through these inferences, Herbert Simon brings forth bounded rationality.
Our decision making, said Simon, is constrained by bounded rationality and.
That 's, in fact, the premise of bounded rationality.
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Examples of using Bounded
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The path is bounded by cliffs on either side
Such a set is called a polyhedron or a polytope if it is bounded
You guys were bounded to the chains too
Examples of using Rationality
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Criteria of economic rationality and human justice
The rationality has kicked back in again
This violates economic rationality as usually understood
