Pure rationality and limited rationality share a common perspective, seeing decisions as based on evaluation of alternatives in terms of their consequences for preferences. This logic of consequences can be contrasted with a logic of appropriateness by which actions are matched to situations by means of rules organized into identities.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Pure rationality and limited rationality share a common perspective, seeing decisions as based on evaluation of alternatives in terms of their consequences for preferences. This logic of consequences can be contrasted with a logic of appropriateness by which actions are matched to situations by means of rules organized into identities." in the context of "James G. March (1994), A Primer on Decision Making: How Decisions Happen, p. 57" to mean that wisdom is timeless.