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Models of bounded rationality describe how a judgement or decision is reached (that is, the heuristic processes or proximal mechanisms) rather than merely the outcome of the decision, and they describe the class of environments in which these heuristics will succeed or fail.

— Reinhard Selten

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Quote text and notes from Wikiquote: Reinhard Selten (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.