Bounded rationality is a concept introduced by economist Herbert Simon to describe the limitation of human decision-making in situations where optimal solutions are hindered by the finite cognitive capability of the decision-maker and the inherent complexity of the environment. The concept contrasts with the traditional economic theories for rationality, which assume that individuals have unlimited cognitive resources and access to all relevant information, allowing them to make the best possible choices.

有界理性是經濟學家赫伯特-西蒙提出的一個概念，用來描述人類決策的侷限性，在這種情況下，最佳解決方案受到決策者有限的認知能力和環境固有的複雜性的阻礙。這一概念與傳統的理性經濟理論形成鮮明對比，後者假定個人擁有無限的認知資源，可以獲得所有相關資訊，從而做出最佳選擇。

In reality, individuals often rely on simplified models of the world to make decisions.

在現實生活中，個人往往依賴簡化的世界模型來做出決策。

This simplification occurs because people have limited time, information, and computational capacities. As a result, rather than seeking the optimal solution, individuals aim for a satisfying solution—one that meets an acceptable level of satisfaction but may not be the best possible outcome. Bounded rationality acknowledges that while humans strive to make rational decisions, their judgments are constrained by various cognitive, informational, and temporal limitations.

之所以會出現這種簡化，是因為人們的時間、資訊和計算能力有限。是以，個人的目標不是尋求最佳解決方案，而是尋求一個令人滿意的解決方案--滿足可接受的滿意度，但可能不是最好的結果。有界理性承認，雖然人類努力做出理性決策，但他們的判斷受到認知、資訊和時間等多方面的限制。