Bounded Rationality

A decisionmaker is said to exhibit bounded rationality when he or she violates some commonly accepted precept of rational behavior but nevertheless acts in a manner consistent with the pursuit of an appropriate set of goals or objectives. This definition is, ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles