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Definition of Bounded Rationality

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Definition: Models of bounded rationality are defined in a recent book by Ariel Rubinstein as those in which some aspect of the process of choice is explicitly modeled.(Econterms)

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Writing a Term Paper? Here are a few starting points for research on Bounded Rationality:

Books on Bounded Rationality:

  • Rubinstein, Ariel. 1998. Modeling Bounded Rationality
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