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Information Processing and Bounded Rationality: A Survey

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Barton L. Lipman

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Abstract

This paper surveys recent attempts to formulate a plausible and tractable model of bounded rationality. The author focuses in particular on models that view bounded rationality as stemming from limited information processing. He discusses partitional models (such as computability, automata, perceptions, and optimal networks), nonpartitional models, and axiomatic approaches.

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File URL: http://links.jstor.org/sici?sici=0008-4085%28199502%2928%3A1%3C42%3AIPABRA%3E2.0.CO%3B2-6
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Publisher Info
Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 28 (1995)
Issue (Month): 1 (February)
Pages: 42-67
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Handle: RePEc:cje:issued:v:28:y:1995:i:1:p:42-67

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  1. Olivier Armantier & Jean-Pierre Florens & Jean-Francois Richard, 1999. "Nash Equilibrium Approximations in Games of Incomplete Information," Department of Economics Working Papers 99-01, Stony Brook University, Department of Economics. [Downloadable!]
  2. Stefano Ficco & Vladimir Karamychev, 2009. "Preference for flexibility in the absence of learning: the risk attitude effect," Economic Theory, Springer, vol. 40(3), pages 405-426, September. [Downloadable!] (restricted)
  3. Stefano Ficco, 2004. "Information Overload in Monopsony Markets," Tinbergen Institute Discussion Papers 04-082/1, Tinbergen Institute. [Downloadable!]
  4. Stefano Ficco & Vladimir A. Karamychev, 2004. "Information Overload in Multi-Stage Selection Procedures," Tinbergen Institute Discussion Papers 04-077/1, Tinbergen Institute. [Downloadable!]
  5. Georges Tanguay & Gary Hunt & Nicolas Marceau, 2005. "Food Prices and the Timing of Welfare Payments: A Canadian Study," Canadian Public Policy, University of Toronto Press, vol. 31(2), pages 145-160, June. [Downloadable!] (restricted)
  6. Nicolai J. Foss, . "The Rhetorical Dimensions of Bounded Rationality: Herbert A. Simon and Organizational Economics," IVS/CBS Working Papers 2002-07, Department of Industrial Economics and Strategy, Copenhagen Business School. [Downloadable!]
  7. Robin Hanson, 2003. "For Bayesian Wannabes, Are Disagreements Not About Information?," Theory and Decision, Springer, vol. 54(2), pages 105-123, March. [Downloadable!] (restricted)
  8. Markus Pasche, 2001. "Equilibrium Concepts for Boundedly Rational Behavior in Games," Working Paper Series B 2001-03, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultïät. [Downloadable!]
  9. Markus Pasche, 1998. "An Approach to Robust Decision Making: The Rationality of Heuristic Behavior," Working Paper Series B 1998-10, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultïät. [Downloadable!]
  10. H. Reiju Mihara, 1997. "Arrow's Theorem, countably many agents, and more visible invisible dictators," Public Economics 9705001, EconWPA, revised 07 May 1997. [Downloadable!]
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  11. Jacek Cukrowski & Manfred M. Fischer, 2007. "Efficient organization of information processing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 13-26. [Downloadable!]
  12. Jihong Lee, 2007. "Unforeseen Contingency and Renegotiation with Asymmetric Information," Birkbeck Working Papers in Economics and Finance 0717, Birkbeck, Department of Economics, Mathematics & Statistics. [Downloadable!]
    Other versions:
  13. Nabil I. Al-Najjar & Ramon Casadesus-Masanell & Emre Ozdenoren, 1999. "Subjective Representation of Complexity," Discussion Papers 1249, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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