Herbert A . Simon introduced the concept of "'bounded rationality "'which challenged assumptions about the perfect rationality of communication participants.
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Huw Dixon later argues that it may not be necessary to analyze in detail the process of reasoning underlying bounded rationality.
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CHT can offer reasonably accurate predictions about human behavior while acknowledging stronger forms of bounded rationality and opportunism than standard theory.
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Many explanations have been suggested, and research has recently shown that bubbles may appear even without uncertainty, speculation, or bounded rationality.
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Economists often assume the models of rational choice theory and bounded rationality to formalize and predict the behavior of individuals and firms.
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For example, models of individual behavior under bounded rationality and of people suffering from envy can be found in the literature . ""
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One approach to the dilemma is to let agents ignore attributes of the aggregate distribution, justifying this assumption by referring to bounded rationality.
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Several management theories, most notably bounded rationality and the behavioral theory of the firm, were established by Carnegie School management scientists and economists.
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An incremental policy model relies on features of incremental decision-making such as : satisfying, organizational drift, bounded rationality, and limited cognition, among others.
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The term, bounded rationality, is used to designate rational choice that takes into account the cognitive limitations of both knowledge and cognitive capacity.
