Reason, Bounded Rationality, and the Lebenswelth: Socilly Sensitive Decision Making

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10 Citations (Scopus)

Abstract

Abstract Herbert Stmon introduced the concept of bounded rationality to provide a socially sensitive perspective on decision making But he was not entrrely successful in this endeavor Specifically, he has not abandoned the as sumption of perfect rationality All he has done is to recognize that perons rational manner In this paper, and thus are incapable of acting in perfectly rational manner In this paper, the attempt is made to illustrate how Simon's position can be deepened due to the work of a host of modern writers Decistion making, in ohter words, can be made socially sensitive by understanding facts and reason to originate from the I ebensu'elt

Original languageEnglish (US)
Pages (from-to)293-304
Number of pages12
JournalAmerican Journal of Economics and Sociology
Volume51
Issue number3
DOIs
StatePublished - 1992

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ASJC Scopus subject areas

  • Economics and Econometrics
  • Sociology and Political Science

Cite this

Reason, Bounded Rationality, and the Lebenswelth : Socilly Sensitive Decision Making. / Murphy, John W.

In: American Journal of Economics and Sociology, Vol. 51, No. 3, 1992, p. 293-304.

Research output: Contribution to journalArticle

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