Bounded Rationality

Bounded Rationality is rationality for bounded agents. Not (primarily) about "modelling irrationality": may include models of irrational behavior, but the aspiration of bounded rationality is to explain why this is in some sense the best a bounded agent can do, or, a rational approach for a bounded agent to take given its limited resources and knowledge. In other words, bounded rationality is a type of rationality, not a type of irrationality.

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