The concept of Bounded Rationality has been given by October 6, 2021October 6, 2021 TORAN LAL VERMA George R. TerryPeter F. DruckerHerbert A. SimonR.S. Davar Answer Herbert A. Simon 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