Bounded Rationality and Budgeting

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Ibrahim, Mukdad;
  • Publisher: İlhan ÖZTÜRK
  • Journal: Cilt: 6 Sayı: 4 (issn: 2146-4405, eissn: 2146-4405)
  • Subject: Bounded rationality, Budgeting, Incremental Budgeting

This article discusses the theory of bounded rationality which had been introduced by Herbert Simon in the 1950s. Simon introduced the notion of bounded rationality stating that while decision-makers strive for rationality, they are limited by the effect of the environm... View more
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