Modeling Bounded Rationality

Modeling Bounded Rationality
Author :
Publisher : MIT Press
Total Pages : 226
Release :
ISBN-10 : 0262681005
ISBN-13 : 9780262681001
Rating : 4/5 (05 Downloads)

Book Synopsis Modeling Bounded Rationality by : Ariel Rubinstein

Download or read book Modeling Bounded Rationality written by Ariel Rubinstein and published by MIT Press. This book was released on 1998 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions.In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response. The Zeuthen Lecture Book series is sponsored by the Institute of Economics at the University of Copenhagen.


Modeling Bounded Rationality Related Books

Modeling Bounded Rationality
Language: en
Pages: 226
Authors: Ariel Rubinstein
Categories: Business & Economics
Type: BOOK - Published: 1998 - Publisher: MIT Press

DOWNLOAD EBOOK

The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinst
Models of Bounded Rationality
Language: en
Pages: 336
Authors: Univ Of Chicago
Categories: Business & Economics
Type: BOOK - Published: 1997-07 - Publisher: Mit Press

DOWNLOAD EBOOK

Offering alternative models based on such concepts as satisficing(acceptance of viable choices that may not be the undiscoverableoptimum) and bounded rationalit
Models of My Life
Language: en
Pages: 463
Authors: Herbert A. Simon
Categories: Biography & Autobiography
Type: BOOK - Published: 1996-10-08 - Publisher: MIT Press

DOWNLOAD EBOOK

In this candid and witty autobiography, Nobel laureate Herbert A. Simon looks at his distinguished and varied career, continually asking himself whether (and ho
Bounded Rationality
Language: en
Pages: 404
Authors: Gerd Gigerenzer
Categories: Business & Economics
Type: BOOK - Published: 2002-07-26 - Publisher: MIT Press

DOWNLOAD EBOOK

In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational deci
Models of a Man
Language: en
Pages: 596
Authors: Mie Augier
Categories: Computers
Type: BOOK - Published: 2004-03-26 - Publisher: MIT Press

DOWNLOAD EBOOK

Essays that pay tribute to the wide-ranging influence of the late Herbert Simon, by friends and colleagues. Herbert Simon (1916-2001), in the course of a long a