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Bounded Rationality in Individual Decision Making

Camerer, Colin F. (1998) Bounded Rationality in Individual Decision Making. Experimental Economics, 1 (2). pp. 163-183. ISSN 1386-4157.

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The main objectives of this paper are: (i) To give a pithy, opinionated summary of what has been learned about bounded rationality in individual decision making from experiments in economics and psychology (drawing on my 1995 Handbook of Experimental Economics chapter); and (ii) mention some promising new directions for research which would be included if that chapter were written today.

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Camerer, Colin F.0000-0003-4049-1871
Additional Information:© 1998 Economic Science Association. This paper is based on a lecture at the Bonn Conference on Theories of Bounded Rationality, May 1997. Helpful comments were received from Charles Holt and Drazen Prelec, and Angela Hung assisted with research. It was written in the warm incubator of the Center for Advanced Study for Behavioral Sciences, with support from National Science Foundation grant SBR 9601236.
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NSFSBR 9601236
Record Number:CaltechAUTHORS:20110210-113531946
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Official Citation:Camerer, C. (1998). "Bounded rationality in individual decision making." Experimental Economics 1(2): 163-183.
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:22112
Deposited By: Tony Diaz
Deposited On:11 Feb 2011 23:06
Last Modified:23 Aug 2016 09:58

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