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Polynomially Bounded Rationality
Journal of Economic Theory, 1994zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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An architecture for bounded rationality
ACM SIGART Bulletin, 1991This paper is specifically concerned with the topic oflimited rationality--- the generation of utility-maximizing behaviour in a non-static environment by a system with finite computational resources. The design of the RALPH (Rational Agent with Limited Performance Hardware) architecture aims to tie together, in a unified theoretical framework and a ...
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2015
Dependable cyber-physical systems strive to deliver anticipative, multi-objective performance anytime, facing deluges of inputs with varying and limited resources. This is even more challenging for life-long learning rational agents as they also have to contend with the varying and growing know-how accumulated from experience.
Eric Nivel +3 more
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Dependable cyber-physical systems strive to deliver anticipative, multi-objective performance anytime, facing deluges of inputs with varying and limited resources. This is even more challenging for life-long learning rational agents as they also have to contend with the varying and growing know-how accumulated from experience.
Eric Nivel +3 more
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Proceedings of the Behavioral and Quantitative Game Theory: Conference on Future Directions, 2010
How do people reason about others in strategic situations and how does that affect their behavior? These questions have been at the forefront of game theory since its inception in the first half of the twentieth century. Traditionally, the focus has been on the question how "rational" players behave.
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How do people reason about others in strategic situations and how does that affect their behavior? These questions have been at the forefront of game theory since its inception in the first half of the twentieth century. Traditionally, the focus has been on the question how "rational" players behave.
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FROM RATIONALITY TO BOUNDED RATIONALITY*
Australian Economic Papers, 2005We investigate the role of bounded rationality in asset pricing and information efficiency. We show that the market stays between the weak‐form efficiency and the semi‐strong‐form efficiency in a market with a single asymmetric information and without noise supply.
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Rationalizing epistemic bounded rationality
Theory and Decision, 2014zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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2020
The theory of bounded rationality, proposed by Herbert A. Simon (1957), is a progenitor of the behavioral turn in modern economics. It provided a viable and realistic alternative to the idea of homo economic us and the optimality criterion of utility maximization. Simon called his alternative criterion satisficing, the decision-making process whereby a
Stefan Rass +3 more
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The theory of bounded rationality, proposed by Herbert A. Simon (1957), is a progenitor of the behavioral turn in modern economics. It provided a viable and realistic alternative to the idea of homo economic us and the optimality criterion of utility maximization. Simon called his alternative criterion satisficing, the decision-making process whereby a
Stefan Rass +3 more
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Programming Bounded Rationality
2006Research on Artificial Intelligence and Robotics helps to understand problems of rationality. Autonomous robots have to act and react in complex environments under constraints of their bounded resources. Simple daily tasks are much more difficult to implement than playing chess.
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Modeling Bounded Rationality: Mediation or Moderation—Or Bounded Rationalizing?
2020To make TCE behavioral and then apply it in empirical settings, a clear understanding of how to model bounded rationality is indispensable, considering some common confusions surrounding (bounded) rationality. We overcome these confusions by distinguishing between the brain, the mind, and the self, and presenting the triune theory of the brain and the ...
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Rational Choice and Bounded Rationality
2017This chapter presents a brief exposition of consumer decision making. It begins by emphasizing the two major forces that frame consumer decisions, namely, the goals humans strive to attain in the marketplace and the resources they have to exchange for goods and services that achieve those goals.
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