TY  - SER
AU  - de Clippel, Geoffroy
AU  -  Rozen, Kareen
TI  - Bounded Rationality in Choice Theory: A Survey
SN  - 0022-0515
PB  - Journal of Economic Literature
KW  -  Communication
KW  -  Information and Knowledge
KW  -  Micro-Based Behavioral Economics
KW  - Consumer Economics
N2  - A vibrant literature incorporates elements of bounded rationality into choice theory. We survey this work, discussing five central ways in which the literature has modeled departures from the rational choice procedure. We discuss the variety of purposes axiomatic choice characterizations serve for these positive theories, delve into experimental tests, synthesize the welfare debate, and assess important future directions
UR  - https://www.aeaweb.org/articles?id=10.1257/jel.20231592
ER  -