The Bounds of Rationality: Philosophical, Psychological and Economic Aspects of Choice Making

Hermann Brandstõtter, Werner G³th and Hartmut Kliemt
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Hermann Brandstõtter: Jahannes-Kepler-Universitõt Linz, Abteilung f³r Sozial- und Wirtschaftspsychologie, Linz-Auhof
Werner G³th: Max Planck Institute for Research, into Economic Systems, Strategic Interaction Group, Jena, Germany
Authors registered in the RePEc Author Service: Werner Güth ()

Homo Oeconomicus, 2003, vol. 20, 303-356

Abstract: 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.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:hom:homoec:v:20:y:2003:p:303-356

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