Bounded rationality

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Definitions of word and concept of Bounded rationality.

Definitions

Definition Author Date Source format Language
“bounded rationality” (i.e. the cognitive limits that prevent individuals and institutions from adopting contingency plans or contracts for all possible states of the world), which limits such goal-setting capacity Hood and Jones 2005 Hood and Jones, 1996 English

Sources

  • Hood, C. & Jones, D. (1996) Accident and Design: Contemporary Debates in Risk Management. UCL Press.