Bounded Rationality

Concept

the idea that rationality is limited by the tractability of the decision problem, the cognitive limitations of the mind, and the time available to make the decision

Mentioned in 1 video

Videos Mentioning Bounded Rationality

MIT AGI: Cognitive Architecture (Nate Derbinsky)

MIT AGI: Cognitive Architecture (Nate Derbinsky)

Lex Fridman

A concept introduced by Herbert Simon, suggesting that human decision-making is rational but subject to limitations in information, cognitive ability, and time.