view. Though models of substantive rationality cannot serve as guidance for decision-making under uncertainty, we can … improve prescriptions for coping with uncertainties in view of evidence of substantive success or failure. Decision theory …

choice making. We illustrate why this role is not being fulfilled well by standard models of full rationality and that … theories of bounded rationality are needed not only for better predictions, but also for developing better advice. Our main … point is that one cannot succeed here without studying how theories of bounded rationality causally influence the behavior …

Can one deamp;#64257;ne and test the hypothesis of (un)bounded rationality in stochastic choice tasks without endorsing … rationality where we interpret goal levels as aspirations. If for the latter there exist choices satisfying all state …