Results 21 to 30 of about 15,568 (347)

The bounded rationality of probability distortion. [PDF]

open access: yesProc 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.
europepmc   +5 more sources

Bounded Rationality [PDF]

open access: yes
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
core   +2 more sources

Bounded Rationality

open access: yesPhilosophy Compass, 2007
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 ...
Grüne-Yanoff, Till,
core   +2 more sources

Bounded rationality is rare

open access: yesJournal of Economic Theory, 2022
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Giarlotta, Alfio   +2 more
openaire   +3 more sources

The effect of challenging people’s fundamental assumptions about a task: Introducing uncertainty for reducing overprecision

open access: yesCogent Psychology, 2023
Most of us understand that our rationality is bounded by our cognitive limitations, knowledge, set of beliefs, etc. Generally, however, people are not sufficiently aware of their own bounded rationality and demonstrate overprecision vis-à-vis their ...
Nirit Yuviler-Gavish   +2 more
doaj   +1 more source

Exploring Lithuanian Real Estate Crowdfunding Investors’ Rationality

open access: yesOrganizacijų Vadyba: Sisteminiai Tyrimai, 2022
The research aims to assess how rational investors are in making real estate crowdfunding investment decisions and weather similar rationality investors share common individual-level characteristics.
Legenzova Renata, Leckė Gintarė
doaj   +1 more source

An Approach to Bounded Rationality [PDF]

open access: yes, 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
openaire   +3 more sources

Bounded Rationality and Control

open access: yesAutomation 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 ...
openaire   +3 more sources

Pushing the Bounds of Bounded Optimality and Rationality

open access: yesCognitive Science, 2023
Abstract All 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
openaire   +2 more sources

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