Simon’s bounded rationality

Alfio Giarlotta () and Angelo Petralia ()
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Alfio Giarlotta: University of Catania
Angelo Petralia: University of Catania

Decisions in Economics and Finance, 2024, vol. 47, issue 1, No 13, 327-346

Abstract: Abstract This note in the Milestones series is dedicated to the paper “A Behavioral Model of Rational Choice”, written by Herbert Simon and published in 1955 on the Quarterly Journal of Economics.

Keywords: Rationality; Bounded rationality; Choice; Satisficing; Aspiration levels; Updating; Testability; Revealed preference; Stochastic choice; Rationality measure; 91B06; 91B08; 91B16 (search for similar items in EconPapers)
JEL-codes: D01 D91 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10203-024-00436-2

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