The bounds of rationality - Philosophical, Psychological and Economic Aspects of Choice Making

This paper brings together views on choice making as have been developed in philosophy, psychology, and economics. Starting from specific examples the relative merits of different approaches are discussed. The conclusion that models of boundedly rational behavior are the future of social science research is strongly endorsed . But we also admit that it is not completely clear what this implies and take the liberty to speculate on where future research might go.

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Year of publication:	2003-04-01
Authors:	Brandstätter, Hermann ; Güth, Werner ; Kliemt, Hartmut
Institutions:	Max-Planck-Institut für Ökonomik <Jena> / Abteilung Strategische Interaktion
Subject:	Entscheidungstheorie \| decision theory \| Eingeschränkte Rationalität \| Spieltheorie \| game theory

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Extent:	548864 bytes 78 p. application/pdf
Series:	Max-Planck-Institut für Ökonomik - Papers on Strategic Interaction Discussion Paper ; 0306 (2003) Homo Oeconomicus, XX(2/3) 2003, 303-356
Type of publication:	Book / Working Paper
Language:	English
Classification:	Forecast, decision making ; Sociological and psychological aspects ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005866973