IDEAS home Printed from https://ideas.repec.org/p/cla/levrem/784828000000000152.html
   My bibliography  Save this paper

Modeling Bounded Rationality

Author

Listed:
  • Ariel Rubinstein

Abstract

The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions. In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ariel Rubinstein, 2005. "Modeling Bounded Rationality," Levine's Bibliography 784828000000000152, UCLA Department of Economics.
  • Handle: RePEc:cla:levrem:784828000000000152
    as

    Download full text from publisher

    File URL: http://arielrubinstein.tau.ac.il/book-br.html
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    JEL classification:

    • C0 - Mathematical and Quantitative Methods - - General
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cla:levrem:784828000000000152. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: David K. Levine (email available below). General contact details of provider: http://www.dklevine.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.