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theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …
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This work challenges the very notion of bounded rationality as dangerously too near to some "unbounded rationality …" used as a benchmark. Should we assume that there is an "unbounded" rationality as a benchmark? Should one start, in order … of more or less significant deviations from the "Olympic rationality". On the contrary, we suggest, human beings and …
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We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent-based model populated by heterogeneous, interacting firms. Agents have to cope with a complex evolving economy characterized by deep uncertainty resulting from technical change,...
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This chapter reviews recent experimental data testing game theory and behavioral models that have been inspired to …
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