In order to incorporate recent developments in Bounded Rationality and Behavioral Economics into Choice Theory, we introduce the notion of an extended choice problem (A,f) where A is a set of alternatives and f is a frame. A frame consists of observable information that appears to be irrelevant...

We develop a model of satisficing with evaluation errors that incorporates complexity at the level of individual alternatives. We test the model predictions in a novel data set with information on hundreds of millions of chess moves by experienced players. Consistent with the theory, complex...