their part are connected to well defined, probably uncertain payoffs. However, bounded rationality abandons this assumption … rationality does (mostly) not assume real world decision problems to appear in closed form, but treats them as open. Consequently …, in the bounded rationality domain the question of how to close a decision problem, i.e. transforming it from open to …

For decision making various theories exist beyond Bernoulli rationality and subjectiveexpected utility. A special …