SFB 303 Discussion Paper No. B - 454

Author: Selten, Reinhard
Title: What is Bounded Rationality? Paper prepared for the Dahlem Conference 1999
Abstract: The paper deals with bounded rationality understood in the tradition of H.A. Simon. Fundamental problems and theoretical issues are discussed. Special emphasis is put on aspiration adaptation theory. Further remarks concern basic models of decision behavior (like learning and expectation formation), reasoning, and the connection between bounded rationality and motivation.
Keywords: Bounded rationality, learning, aspiration adaptation theory
JEL-Classification-Number: C91, D83
Creation-Date: May 1999
URL: ../1999/b/bonnsfb454.pdf

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