Bounded rationality, ambiguity, and the engineering of choice

  title={Bounded rationality, ambiguity, and the engineering of choice},
  author={James G. March},
  journal={The Bell Journal of Economics},
  • J. March
  • Published 1978
  • Economics
  • The Bell Journal of Economics
conceptions of bounded rationality. Recently, behavioral studies of choice have examined the second guess, the way preferences are processed in choice behavior. These studies suggest possible modifications in standard assumptions about tastes and their role in choice. This paper examines some of those modifications, some possible approaches to working on them, and some complications. 1. The engineering of choice and ordinary choice behavior * Recently I gave a lecture on elementary decision… 


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