bounded rationality

the idea that rationality is limited by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision

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About bounded rationality

Bounded rationality is the idea that rationality is limited when individuals make decisions, and under these limitations, rational individuals will select a decision that is satisfactory rather than optimal.

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bounded rationality

the idea that rationality is limited by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision

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About bounded rationality

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Facts from Wikidata (CC0).