“…Following the pioneering work of Simon (1955Simon ( , 1972 on bounded rationality, decision-making with limited information-processing resources has been studied extensively in psychology (Gigerenzer and Todd, 1999;Camerer, 2003;Brighton, 2009), economics (McKelvey andPalfrey, 1995;Rubinstein, 1998;Kahneman, 2003;Parkes and Wellman, 2015), political science (Jones, 2003), industrial organization (Spiegler, 2011), cognitive science (Howes et al, 2009;Janssen et al, 2011), computer science, and artificial intelligence research (Horvitz, 1988;Lipman, 1995;Russell, 1995;Russell and Subramanian, 1995;Russell and Norvig, 2002;Lewis et al, 2014). Conceptually, the approaches differ widely ranging from heuristics (Tversky and Kahneman, 1974;Gigerenzer and Todd, 1999;Gigerenzer and Brighton, 2009;Burns et al, 2013) to approximate statistical inference schemes (Levy et al, 2009;Vul et al, 2009Vul et al, , 2014Sanborn et al, 2010;Tenenbaum et al, 2011;Fox and Roberts, 2012;Lieder et al, 2012).…”