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Models of Bounded Rationality: Empirically Grounded Economic Reason

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Offering alternative models based on such concepts as satisficing(acceptance of viable choices that may not be the undiscoverableoptimum) and bounded rationality (the limited extent to which rationalcalculation can direct human behavior), Simon shows concretely whymore empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, isneeded.

Models of Bounded Rationality: Empirically Grounded Economic Reason 1997, Mit Press, Cambridge

ISBN-13: 9780262519434

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