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2001-02-20Buch DOI: 10.18452/3462
From full to bounded rationality
dc.contributor.authorGüth, Werner
dc.contributor.authorKliemt, Hartmut
dc.date.accessioned2017-06-15T21:04:20Z
dc.date.available2017-06-15T21:04:20Z
dc.date.created2005-10-07
dc.date.issued2001-02-20none
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4114
dc.description.abstractDeriving advice that can in fact be utilized by boundedly rational decision makers is a central function of modeling choice making. We illustrate why this role is not being fulfilled well by standard models of full rationality and that theories of bounded rationality are needed not only for better predictions, but also for developing better advice. Our main point is that one cannot succeed here without studying how theories of bounded rationality causally influence the behavior of boundedly rational individuals. In view of such a causal role of theories we discuss how advice of a theory of boundedly rational behavior can become known, be followed among boundedly rational individuals and still be good advice.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.relation.ispartofseriesSonderforschungsbereich 373: Quantification and Simulation of Economic Processes - 12, SFB 373 Papers, ISSN:1436-1086
dc.subject.ddc330 Wirtschaft
dc.titleFrom full to bounded rationality
dc.typebook
dc.subtitleThe limits of unlimited rationality
dc.identifier.urnurn:nbn:de:kobv:11-10048722
dc.identifier.doihttp://dx.doi.org/10.18452/3462
local.edoc.container-titleSonderforschungsbereich 373: Quantification and Simulation of Economic Processes
local.edoc.container-titleSFB 373 Papers
local.edoc.container-issn1436-1086
local.edoc.pages27
local.z-edoc.journal-periodikumAusgabe12,
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2001
local.edoc.container-issue12
local.edoc.container-year2001

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