The concept of Bounded Rationality has been given by October 6, 2021June 2, 2024 Dr. Toran Lal Verma George R. TerryPeter F. DruckerHerbert A. SimonR.S. Davar Explanation The concept of Bounded Rationality has been given byHerbert A. Simon. Bounded Rationality is the idwa that individual decision making is rationaly limited due to limited information, time and cognitive ability. Share with friends