Emotions as a mechanism for boundedly rational agents : the fast and frugal way

Herbert Simon has warned us that an explanatory account of human rationality must identify the significance of emotions for choice behavior. Customarily emphasizing the cognitive dimensions of decision making, relatively few researchers have paid close attention to specifying the complex ways in which emotion may shape human thinking and decisions. Accordingly, this paper is an attempt to follow Simon’s suggestion and specify how emotions can enter into the theory of bounded rationality. To accomplish our task, we capitalize on Rom

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