Boundedly rational decision emergence - a general perspective and some selective illustrations

A general framework is described specifying how boundedly rational decision makers generate their choices. Starting from a "Master Module" which keeps an inventory of previously successful and unsuccessful routines several su bmodules can be called forth which either allow to adjust behavior (by "Lea rning Module" and "Adaptation Procedure") or to generate new decision routi nes (by applying "New Problem Solver"). Our admittedly bold attempt is loos ely related to some stylized experimental results. (C) 2000 Elsevier Scienc e B.V. All rights reserved.