bounded rationality
/ˌbaʊndɪd ˌræʃəˈnælɪti/
decision-making limited by information, time, and cognitive capacity
“Bounded rationality explains satisficing behavior.”
Origin: From bounded + rational (Latin rationalis of reason)
/ˌbaʊndɪd ˌræʃəˈnælɪti/
decision-making limited by information, time, and cognitive capacity
“Bounded rationality explains satisficing behavior.”
Origin: From bounded + rational (Latin rationalis of reason)