Experimental Economics

, Volume 1, Issue 2, pp 163-183

First online:

Bounded rationality in individual decision making

  • Colin CamererAffiliated withDivision of Humanities and Social Sciences, California Institute of Technology

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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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