What question did this study set out to answer?

The book aims to define and explore models of bounded rationality, particularly in decision-making processes.

Modeling Bounded Rationality

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Book explores challenges in modeling decision-making processes in economics, focusing on bounded rationality.

The book aims to define and explore models of bounded rationality, particularly in decision-making processes.
Analyses psychological findings related to choice and memory.
Models procedural rationality and group decision-making.
Investigates complexities and computability in game theory.
Presents frameworks for constructing models of bounded rationality in games.
Highlights challenges in capturing human decision processes compared to traditional rationality models.
Includes a critique and response regarding the methodology used for modeling.

Friedman et al. (1998) studied this question.

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