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

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.

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Year of publication:	2003
Authors:	Brandstätter, Hermann ; Güth, Werner ; Kliemt, Hartmut
Published in:	Homo Oeconomicus. - Institute of SocioEconomics. - Vol. 20.2003, p. 303-356
Publisher:	Institute of SocioEconomics

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005515302