id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
en-wikipedia-org-1674		Bounded rationality - Wikipedia			.html	text/html	3502	550	56	It complements "rationality as optimization", which views decision-making as a fully rational process of finding an optimal choice given the information available.[2] Simon used the analogy of a pair of scissors, where one blade represents "cognitive limitations" of actual humans and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment.[2] Many economics models assume that agents are on average rational, and can in large enough quantities be approximated to act according to their preferences in order to maximise utility.[1] With bounded rationality, Simon's goal was "to replace the global rationality of economic man with a kind of rational behavior that is compatible with the access to information and the computational capacities that are actually possessed by organisms, including man, in the kinds of environments in which such organisms exist."[3] In short, the concept of bounded rationality revises notions of "perfect" rationality to account for the fact that perfectly rational decisions are often not feasible in practice because of the intractability of natural decision problems and the finite computational resources available for making them.	./cache/en-wikipedia-org-1674.html	./txt/en-wikipedia-org-1674.txt