The information inelasticity of habits: Kahneman’s bounded rationality or Simon’s procedural rationality?
Why would decision makers (DMs) adopt heuristics, priors, or in short “habits” that prevent them from optimally using pertinent information—even when such information is freely-available? One answer, Herbert Simon’s “procedural rationality” regards the question invalid: DMs do not, and in fact canno...
| Published in: | Synthese Vol. 200; no. 4; pp. 1 - 41 |
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| Format: | Article |
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Springer Nature
Aug2022
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| Online Access: | View this record in EBSCOhost |