This work aims at connecting developments in the theory of agency and implicit contracts with research on bounded rationality and agent based computational models. These are two related areas as implicit contracts are justified on the basis of bounded rationality, which additionally is one of...

This paper examines the implications of a 'strong' version of bounded rationality popular within computational and evolutionary game theory in which agents are represented by finite automata. It is argued that this view has unrealistic features in that agents of this kind are unable to...

A well known problem in economics is to describe properly a situation where N agents are repeatedly competing to use the same limited resource. A version of this problem is known in the literature as the El Farol game: week after week N agents face the decision whether to go or not to go to a...