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The (Non) Economic Properties of the Law
Games, 2021 This paper shows that the logical properties of constraints imposed by law are fundamentally different from other constraints considered in economics such as budget constraints and bounded rationality constraints, such as the ones based on inattention or
Leo Katz, Alvaro Sandroni
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Bounded Rationality, Indeterminacy, and the Theory of the Firm [PDF]
The Economic Journal, 1996 Two issues have become increasingly apparent in attempts to apply the prevailing notions of' economic rationality' to the theory of the organisation of business firms. The first goes under the rubric of bounded rationality. This is hardly a new idea, and has been forcefully brought to our attention in the work of Simon and others, although awareness of
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Inverse Game Theory for Stackelberg Games: The Blessing of Bounded Rationality
Advances in Neural Information Processing Systems 35, 2022 Optimizing strategic decisions (a.k.a. computing equilibrium) is key to the success of many non-cooperative multi-agent applications. However, in many real-world situations, we may face the exact opposite of this game-theoretic problem -- instead of prescribing equilibrium of a given game, we may directly observe the agents' equilibrium behaviors but ...
Jibang Wu +3 more
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Prospect Theoretic Study of Honeypot Defense Against Advanced Persistent Threats in Power Grid
IEEE Access, 2020 As one of the most critical infrastructure, the power grid has been increasingly threatened by network attacks, especially advanced persistent threats (APTs).
Wen Tian +6 more
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IET Generation, Transmission & Distribution, 2023 In the transactive energy market (TEM), prosumers are assumed to be rational. However, prosumers’ trading behaviours are affected by many factors (e.g. social relations, personal preferences, and habits).
Xinyi Jing +4 more
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Quantifying Motor Task Performance by Bounded Rational Decision Theory [PDF]
Frontiers in Neuroscience, 2018 Expected utility models are often used as a normative baseline for human performance in motor tasks. However, this baseline ignores computational costs that are incurred when searching for the optimal strategy. In contrast, bounded rational decision-theory provides a normative baseline that takes computational effort into account, as it describes ...
Schach, Sonja +2 more
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The Effect of Bounded Rationality on Human Cooperation with Voluntary Participation
Mathematics, 2022 The evolution of human cooperation is an important issue concerning social science. A deep understanding of human bounded rationality is a prerequisite for promoting collective cooperation and solving social dilemmas.
Luhe Yang, Duoxing Yang, Lianzhong Zhang
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Scientific Data, 2023 This article provides a combined geospatial artificial intelligence-machine learning, geoAI-ML, agent-based, data-driven, technology-rich, bottom-up approach and datasets for capturing the human dimension in climate-energy-economy models.
Diego Moya +5 more
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BOUNDED RATIONALITY IN DECISION-MAKING [PDF]
Challenges of the Knowledge Society, 2019 The purpose of this paper is to study the relationship between rationality and decision making. As a specific objective it will be explained the benefit of learning in the decision making process derived from its results.
José G. VARGAS-HERNÁNDEZ +1 more
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Mathematics, 2023 In highway on-ramp sections, the conflictual interactions between a subject vehicle (merging vehicle) in the acceleration lane and a following vehicle (lagging vehicle) in the adjacent mainline can lead to traffic congestion, go–stop oscillations, and ...
Weihan Chen +5 more
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