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Published in: Mind & Society 1/2021

02-11-2020

Reasonable bounds on rationality

Authors: Igor Grossmann, Richard P. Eibach

Published in: Mind & Society | Issue 1/2021

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Abstract

Previous theory and research on bounded rationality has emphasized how limited cognitive resources constrain people from making utility maximizing choices. This paper expands the concept of bounded rationality to consider how people’s rationality may be constrained by their internalization of a qualitatively distinct standard for sound judgment, which is commonly labeled reasonableness. In contrast to rationality, the standard of reasonableness provides guidance for making choices in situations that involve balancing incommensurable values and interests or reconciling conflicting points-of-view. We review recent evidence showing that laypeople readily recognize the distinctions between rationality and reasonableness and thus are able to utilize these as distinct standards to inform their everyday decision-making. The fact that people appear to have internalized rationality and reasonableness as distinct standards of sound judgment supports the notion that people’s pursuit of rationality may be bounded by their determination to also be reasonable.

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Metadata
Title
Reasonable bounds on rationality
Authors
Igor Grossmann
Richard P. Eibach
Publication date
02-11-2020
Publisher
Springer Berlin Heidelberg
Published in
Mind & Society / Issue 1/2021
Print ISSN: 1593-7879
Electronic ISSN: 1860-1839
DOI
https://doi.org/10.1007/s11299-020-00267-9

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