Bounded Rationality and the Emergence of Simplicity Amidst Complexity

Cassey Lee

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Decision-Making and Behavioral Economics Economic Theory and Institutions Complex Systems and Decision Making

Abstract

This chapter contains sections titled: Introduction Rationality Bounded Rationality Bounded Rationality and the Complexity of Environment The Emergence of Simplicity Amidst Complexity Concluding Remarks Acknowledgements Notes References

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References

1974Judgment under Uncertainty: Heuristics and Biases 1981The Framing of Decisions and the Psychology of Choice 1955A BEHAVIORAL MODEL OF RATIONAL CHOICE 2000The New Institutional Economics: Taking Stock, Looking Ahead 1956Rational choice and the structure of the environment.2003Maps of Bounded Rationality: Psychology for Behavioral Economics 1997Models of Bounded Rationality 1977Rational Fools: A Critique of the Behavioral Foundations of Economic Theory

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