id: 1161,5A
title: ”Bounded rationality” means decisions are made well locally, but not globally.
date: 2022-03-03

”Bounded rationality” means decisions are made well locally, but not globally.

Decisions are usually good, considering the available information, but information is always imperfect and usually quite local.rM3

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    Donella H. Meadows and Diana Wright, Thinking in Systems: A Primer (White River Junction, Vt: Chelsea Green Pub, 2008). (See notes.)