Models of Bounded Rationality: Emperically Grounded Economic Reason
- ISBN-10
- 0262519437
- ISBN-13
- 9780262519434
- Category
- Business & Economics
- Pages
- 336
- Language
- English
- Published
- 1997-07
- Publisher
- MIT Press
- Authors
- Herbert A. Simon, Univ Of Chicago
Description
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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Other editions
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- 1997
- 457 pages
- Paperback
- MIT Press
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