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Rationalizing epistemic bounded rationality

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  • Konrad Grabiszewski

Abstract

The standard model of knowledge, $$(\varOmega ,P)$$ ( Ω , P ) , consists of state space, $$\varOmega $$ Ω , and possibility correspondence, $$P$$ P . Usually, it is assumed that $$P$$ P satisfies all knowledge axioms (Truth Axiom, Positive Introspection Axiom, and Negative Introspection Axiom). Violating at least one of these axioms is defined as epistemic bounded rationality (EBR). If this happens, a researcher may try to look for another model, $$(\varOmega ^{*},P^{*})$$ ( Ω ∗ , P ∗ ) , which generates the initial model, $$(\varOmega ,P)$$ ( Ω , P ) , while satisfying all knowledge axioms. Rationalizing EBR means that the researcher finds such a model. I determine when rationalization of EBR is possible. I also investigate when a model, $$(\varOmega ^{*},P^{*})$$ ( Ω ∗ , P ∗ ) , which satisfies all knowledge axioms, generates a model, $$(\varOmega ,P)$$ ( Ω , P ) , which satisfies these axioms as well. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Konrad Grabiszewski, 2015. "Rationalizing epistemic bounded rationality," Theory and Decision, Springer, vol. 78(4), pages 629-637, April.
    • Handle: RePEc:kap:theord:v:78:y:2015:i:4:p:629-637
    DOI: 10.1007/s11238-014-9455-y
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    References listed on IDEAS

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    1. Konrad Grabiszewski, 2015. "Epistemic Self-Analysis and Epistemic Bounded Rationality," Economics Bulletin, AccessEcon, vol. 35(3), pages 1941-1948.

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