Foundations of Law and Economics
A Behavioral Model of Rational Choice
Herbert A. Simon
- Year
- 1955
- Venue
- Quarterly Journal of Economics
- Level
- Advanced
Summary
Replaces fully optimizing behavior with models of bounded rationality and satisficing. The article supplies a foundation for analyzing how limited information and computational capacity affect legal choice and institutional design.
Citation
Herbert A. Simon. "A Behavioral Model of Rational Choice." Quarterly Journal of Economics, 1955.
BibTeX
@article{Simon1955A,
title = {A Behavioral Model of Rational Choice},
author = {Herbert A. Simon},
year = {1955},
journal = {Quarterly Journal of Economics},
url = {https://www.jstor.org/stable/1884852}
}