The current discussion on theoretical and methodological pluralism is plagued with confusions and misunderstandings. Some problems arise because an appropriate framework for conducting a fruitful discussion about these issues is still lacking. Many other problems derive from the fact that a...

Models of Bounded Rationality are often seen as more realistic than the traditional alternatives based on the fully-rational homo economicus, assumed by Expected Utility Theory (EUT). In his seminal paper on Bounded Rationality Simon (1955) pictured a decision maker as having computational...