Bounded rationality in social science: Today and tomorrow [Book Review]

Mind and Society 1 (1):25-39 (2000)
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Abstract

With the discovery of voluminous discordant empirical evidence, maximizing expected utility is rapidly disappearing as the core of the theory of human rationality, and a theory of bounded rationality, embracing both the processes and products of choice, is replacing it. There remains a large task of organizing our picture of economic and social processes and adding the new facts needed to shape the theory in an empirically sound way. It is also urgent that new tools now available for conducting empirical inquiry and constructing models be incorporated in social science graduate education.

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References found in this work

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The Wealth of Nations.Adam Smith - 1976 - Hackett Publishing Company.
The Republic. Plato & Benjamin Jowett - 1894 - Arlington Heights, Ill.: Courier Dover Publications. Edited by Cynthia Johnson, Holly Davidson Lewis & Benjamin Jowett.
Rational choice and the structure of the environment.Herbert A. Simon - 1956 - Psychological Review 63 (2):129-138.
The Prince.Niccolò Machiavelli - 1882 - Harmondsworth,: The Modern Library. Edited by Peter Constantine.

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