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Bounded Rationality of Restricted Turing Machines
bounded rationality repeated games restricted Turing machine
2016/1/22
Bounded rationality aims to understand the effects of how limited rationality affects decision-making. The traditional models in game theory and multiagent system research, such as finite automata or ...
Bounded Rationality in Industrial Organization
Bounded Rationality Industrial Organization
2010/11/5
This paper discusses the use of bounded rationality in industrial organization. There is a
long tradition of such work: literatures from various decades have discussed irrationalities
by firms and c...
Scale Invariance, Bounded Rationality and Non-Equilibrium Economics
Scale Invariance Bounded Rationality Non-Equilibrium Economics
2010/10/29
We study a class of heterogeneous agent-based models which are based on a basic set
of principles, and the most fundamental operations of an economic system: trade and
product transformations. A bas...