Rationality and bounded rationality: you can't have one without the other

This article compares and contrasts the various perspectives on rationality and bounded rationality, and in doing so, advances two claims. The central one is that the definition of rationality depends on bounded rationality. This is reminiscent of debates in philosophy concerning the definition of c...

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Bibliographic Details
Published in:The European journal of the history of economic thought 2018-11, Vol.25 (6), p.1370-1386
Main Author: Sent, Esther-Mirjam
Format: Article
Language:English
Subjects:
agents
bounded rationality
Concepts
Economic models
Economists
Rationality
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