The way Simon, and the major part of the scholars, presented and used bounded rationality directly refers to human computational capabilities (or “brute-force”). Despite its broad powers of explanation, some problems arise when taking into account the way the human cognitive system really...

Humans exhibit the remarkable ability to solve complex, multi-step problems despite their limited capacity for search. We review the standard theory of problem solving, which posits that heuristic guidance makes this possible, but we also note that most studies have emphasized the role of...

Purpose This study aims at redefining bounded rationality on the basis of a more socialized view of the individual. In doing so, it introduces “inquisitiveness” as a key disposition that some team members use to assemble and integrate knowledge when solving problems....

Purpose The purpose of this editorial is to introduce the Special Issue “Agent-Based Models of Bounded Rationality” and to provide an overview of its rationale and main objectives. Design/methodology/approach After outlining the overall framework to justify the choice of agent-based modeling...

We study a model of team problem-solving over a large solution space. Compared to the existing literature, we allow for heterogeneity both in the organizational architectures and in the agents' cognitive abilities; moreover, we introduce a more expressive performance measure. We find a robust...