Scenarios about 'bounded rationality'
Bounded rationality describes the concept that human decision-making is limited by available information, cognitive constraints, and time available to make decisions. Introduced by economist Herbert Simon, it challenges classical economic theories of perfect rationality by recognizing that people typically seek satisfactory rather than optimal solutions. In alternate history scenarios, bounded rationality helps explain how historical figures made consequential decisions under pressure with incomplete information, potentially creating divergence points for timelines.
What If Behavioral Economics Emerged Earlier?
Exploring the alternate timeline where behavioral economics developed in the 1940s instead of the 1970s, potentially transforming economics, policy-making, and social welfare decades ahead of our timeline.