<p>Offering alternative models based on such concepts as satisficing (acceptance of viable choices that may not be the undiscoverable optimum) and bounded rationality (the limited extent to which rational calculation can direct human behavior), Simon shows concretely why more empirical research based on experiments and direct observation, rather than just statistical analysis of economic aggregates, is needed.</p>

Models of Bounded Rationality, Volume 3: Empirically Grounded Economic Reason

Business & Money

Simon, Herbert A. A.

Economics

MIT Press]

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Books by Simon, Herbert A. A.

See the best price to sell, buy, or rent books by Simon, Herbert A. A.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Models of Bounded Rationality, Volume 3: Empirically Grounded Economic Reason