Rather, Metaeconomic Rationality embraces the moral dimension of human experience and posits that an other-interest reflecting that moral dimension, moral community is also rationally pursued, and also often influenced by the economic calculus. The standard challenge to human rationality is very typically developed by drawing on research from the HB tradition. But it is important to note that, despite often intense criticisms, even the most prominent opponents of this tradition are in substantive agreement regarding the extent to which human cognition accords with SP ( Samuels et al., 2002 ). What Does Bounded Rationality Mean?

While the human body is designed for decades of use, we are prone to breaking down at inopportune times. marginal case is, “Whatever kind and level of rationality is selected as justifying the attribution of superior moral status to humans will be lacking in some humans or present in some animals (294).” Basically, there are cases where the animal’s degree of rationality is superior to the human’s degree of rationality. I suggest an alternative: a trial is a process by which proof is authoritatively established. It treats human rationality as a given rather than a variable, and it assumes that the primary focus of trials is to resolve disputes, rather than to proclaim truth or to assert authority. It describes the boundaries experienced by individuals facing the choice to move forward or not with a certain transaction. But, as human nature is present in all human decisions, rationality may be highly subjective, therefore the notion of rationality as described in economics may not be entirely rational itself. Our necks didn't evolve to hold certain head positions (like hunched over a laptop). I come from a behavioral economics background. This demonstrates that rationality in economics is a highly objective notion, where human nature interferes with the decision-making process. "Rational" is one of those words that can be a big headache, because there are simply far more concepts to which it is colloquially applied than there are nuances of the term. Rational Behavior: A rational behavior decision-making process is based on making choices that result in the most optimal level of benefit or utility for the individual. Definition: Bounded rationality is a concept that portraits the limitations of rational thinking in decision making processes.