Introduction: methodologies of bounded rationality |
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Authors: | Till Grüne-Yanoff Ivan Moscati |
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Affiliation: | 1. Department of Philosophy and History of Technology, Royal Institute of Technology,Stockholm, Sweden;2. Department of Economics, University of Insubria,Varese, Italy |
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Abstract: | The modelling of bounded rationality is currently pursued by approaches that exhibit a wide diversity of methodologies. This special issue collects five contributions that discuss different methodological aspects of these approaches. In our introduction, we map the variety of methodological positions with respect to three questions. First, what kinds of evidence do the respective approaches consider relevant for modelling bounded rationality? Second, what kind of modelling desiderata do the respective approaches focus on? And third, how do the respective approaches justify the normative validity of bounded rationality? To broaden the picture, we not only discusss the five contributions of this issue, but also include relevant positions from the extant literature. |
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Keywords: | bounded rationality heuristics revealed preferences evidence modelling strategies normative justification |
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