Results 11 to 20 of about 477,215 (294)
The observation of the actual behavior by economic decision makers in the lab and in the field justifies that bounded rationality has been a generally accepted assumption in many socio-economic models.
Penelope Hernandez, Coralio Ballester
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The bounded rationality of probability distortion. [PDF]
Proc Natl Acad Sci U S A, 2020 Significance People distort probability in decision under risk and many other tasks. These distortions can be large, leading us to make markedly suboptimal decisions. There is no agreement on why we distort probability. Distortion changes systematically with task, hinting that distortions are dynamic compensations for some intrinsic ...
Zhang H, Ren X, Maloney LT.
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Philosophy Compass, 2007 Abstract The notion of bounded rationality has recently gained considerable popularity in the behavioural and social sciences. This article surveys the different usages of the term, in particular the way ‘anomalosus’ behavioural phenomena are elicited, how these phenomena are incorporated in model building, and what sort of new ...
Grüne-Yanoff, Till,
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, 2004 A short critical note on a recent book, containing several different approaches to bounded rationality, and the adaptive toolbox.
Palma, Adriano
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Journal of Economic Theory, 2022 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Giarlotta, Alfio +2 more
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An Approach to Bounded Rationality [PDF]
, 2007 A central question in game theory and artificial intelligence is how a rational agent should behave in a complex environment, given that it cannot perform unbounded computations. We study strategic aspects of this question by formulating a simple model of a game with additional costs (computational or otherwise) for each strategy. First we connect this
Eli Ben-Sasson +2 more
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Bounded Rationality and Control
Automation and Remote Control, 2022 The rationality constraint condition is formulated, which states that when solving control, computing and communication problems ($C^3$) together, real-time requirements may not make it possible to find the optimal solution (control action), forcing the use of almost optimal solutions (the best found with the existing restrictions on the search ...
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Pushing the Bounds of Bounded Optimality and Rationality
Cognitive Science, 2023 AbstractAll forms of cognition, whether natural or artificial, are subject to constraints of their computing architecture. This assumption forms the tenet of virtually all general theories of cognition, including those deriving from bounded optimality and bounded rationality.
Sebastian Musslick +1 more
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Journal of Advanced Transportation, 2020 With the advancement of connected autonomous vehicle (CAV) technology, research on future traffic conditions after the popularization of CAVs needs to be resolved urgently.
Zhizhen Liu +4 more
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Bounding Rationality by Discounting Time [PDF]
CoRR, 2009 Consider a game where Alice generates an integer and Bob wins if he can factor that integer. Traditional game theory tells us that Bob will always win this game even though in practice Alice will win given our usual assumptions about the hardness of factoring. We define a new notion of bounded rationality, where the payoffs of players are discounted by
Lance Fortnow, Rahul Santhanam
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