Context334850
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qkg:contextText | Whether individuals optimize under uncertainty or satisfice under the more limiting conditions of bounded rationality... , Alchian's logic of natural selection, when grafted onto either approach, provides a powerful means of deriving and integrating expectations about individuals, organizations and systems. The result in either case is an approach that gains in scope and coherence, and that does so by remaining true to its underlying model of individual choice. (en) |
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