Difference between revisions of "Bounded rationality"
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Revision as of 14:38, 4 December 2018
Bounded rationality is a process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
- Bounded rationality. A process of making decisions by constructing simplified models that extract the essential features from problems without capturing all their complexity.
