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Consumer theory with bounded rational preferences [PDF]

Journal of Mathematical Economics, 2010
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Salience and Strategy Choice in 2 × 2 Games

Games, 2015
We present a model of boundedly rational play in single-shot 2 × 2 games. Players choose strategies based on the perceived salience of their own payoffs and, if own-payoff salience is uninformative, on the perceived salience of their opponent’s payoffs.
Jonathan W. Leland, Mark Schneider
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Bounded rational real‐time charging pricing strategy under the traffic‐grid coupling network

IET Electrical Systems in Transportation, 2022
This study proposes a bounded rational charging guidance strategy based on mental account theory, which guides users to charge in an orderly manner by formulating real‐time charging prices.
Chudi Wang, Shaohua Ma, Zhiyuan Cai, Ning Yan, Qiwei Wang   +4 more
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Explaining the lower usage rate of indigenous construction materials in Ghanaian public buildings using bounded rationality

Heliyon, 2023
Judicious use of Indigenous Construction Materials (ICM) contributes to sustainability of a local construction industry. Why has the use of ICMs not contributed to the sustainability of the Ghanaian Construction Industry (GCI), and how can the use of ...
Sarfo Mensah, Samuel Laryea
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Rationality Levels in a Heterogeneous Dynamic Price Game

Axioms
The Bertrand game is one of the basic game models in modern microeconomics. In some behavior experiments with game theory, it was shown that agents have different bounded rationality levels.
Min Guo, Qiqing Song
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The problem of (non)return of Ukrainian war migrants: A theoretical framework for analysis [PDF]

Соціологія
The article develops an analytical framework for explaining the (non)return of Ukrainian war migrants in relation to their life plans after 2022. It aims to systematise and reconcile approaches at different levels of analysis, allowing decisions on ...
Kateryna Krizhik
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Simon`s Puzzle: Heuristics in the Process of Making Political Choices [PDF]

Interdisciplinary Description of Complex Systems, 2014
In this article we analyse one of the most fascinating paradoxes of mass politics. Based on the data from the studies of neurobiologists, neurologists, social psychology, cognitive and evolution studies we answer the question specified in literature as ...
Mateusz Wajzer, Tymoteusz Staniucha
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Models of rational decision making in contemporary economic theory [PDF]

Megatrend Revija, 2015
The aim of this paper is to show that the economists can not adequately explain the rational behavior if are focused only on the scientific observations from the model of full rationality and the model instrumental rationality, and the inclusion related ...
Krstić Bojan, Krstić Miloš
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From Bayes-optimal to heuristic decision-making in a two-alternative forced choice task with an information-theoretic bounded rationality model

Frontiers in Neuroscience, 2022
Bayes optimal and heuristic decision-making schemes are often considered fundamentally opposed to each other as a framework for studying human choice behavior, although recently it has been proposed that bounded rationality may provide a natural bridge ...
Cecilia Lindig-León, Nehchal Kaur, Daniel A. Braun   +2 more
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Extending the Bounds of Rationality: Evidence and Theories of Preferential Choice

Journal of Economic Literature, 2006
Most economists define rationality in terms of consistency principles. These principles place “bounds” on rationality—bounds that range from perfect consistency to weak stochastic transitivity. Several decades of research on preferential choice has demonstrated how and when people violate these bounds.
Rieskamp, Jörg, Busemeyer, Jerome R, Mellers, Barbara   +2 more
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