Modeling Bounded Rationality by Julian Rubinstein
A concise exploration of how economic and strategic behavior can be modeled when decision makers face limits on calculation, memory, and reasoning. It develops simple formal tools—such as finite automata, similarity-based choice, and costs of deliberation—to capture procedures people actually use rather than assuming flawless optimization. The book illustrates how these models can explain cooperation, mistakes, and systematic patterns in choices, while advocating for transparent, modest theories grounded in realistic cognitive processes.
- Published
- 1998
- Nationality
- Unknown
- Length
- Unknown
- Pages
- Unknown
- Original Language
- English
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