view. Though models of substantive rationality cannot serve as guidance for decision-making under uncertainty, we can …

rationality in two of its principal general definitions: bounded rationality and procedural rationality. It argues that the latter … specificity of the concept of bounded rationality one of the reasons for its relatively greater success …

How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … rationality, with particular emphasis on growing formalization of those departures, which add necessary precision. We also explore … the relationship between bounded rationality and libertarian paternalism, or nudges, and show that some recent objections …

How can errors in decision-making by rationally behaving individuals be explained? The concepts of bounded rationality …-making, some results must be explained by questioning the rationality assumption. In this paper, we show that erroneous decision …