The Bounded Rationality Theory, the Rati
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Boudon, Raymond
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Article
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2004
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Walter de Gruyter GmbH & Co. KG
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The bounded rationality theory (BRT) has been perceived by social scientists as a more flexible version of the rational choice theory (RCT), also called expected utility theory. The former has the avantage of taking into consideration the fact that information is generally costly. It corrects the RC