Bounded rationality Originally proposed by Kenneth Arrow, he argues that bounded rationality is that human behavior is "consciously geographical, but this rationality is limited." Human rationality is limited, firstly, due to environmental uncertainty, that is, incomplete sources of information; second, because people have limited computing ability and cognitive ability to the environment and information; The third reason is that people often use the first signal system (real and specific sti...

Bounded rationality Originally proposed by Kenneth Arrow, he argues that bounded rationality is that human behavior is "consciously geographical, but this rationality is limited." Human rationality is limited, firstly, due to environmental uncertainty, that is, incomplete sources of information; second, because people have limited computing ability and cognitive ability to the environment and information; The third reason is that people often use the first signal system (real and specific sti...