Foundations of Boundedly Rational Choice and Satisficing Decisions
Formally, the orthodox rational agent's “Olympian” choices, as Simon has called orthodox rational choice, are made in a static framework. However, a formalization of consistent choice, underpinned by computability, suggests by, satisficing in a boundedly rational framework is not only more gene...
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| Format: | Article |
| Language: | English |
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Asia University
2010-01-01
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| Series: | Advances in Decision Sciences |
| Online Access: | http://dx.doi.org/10.1155/2010/798030 |