Bounds to Memory Loss
If we express our knowledge in sentences, we will find that these sentences to some extent are linked by logical rules. We ask whether the structure logic imposes on our knowledge restricts what we forget and what we remember. The model is a two period S5-style modal logic. In this logic we propose a memory loss operator: The agent forgets a sentence p if and only if he knows p at time 1 and he does not know p at time 2. Equipped with the operator, we prove theorems on the relation between knowledge and memory loss. The main results point to classes of formulas that an agent cannot forget, and classes of formulas he must forget. A desirable feature is that most results hold in the S4 logic. The results illustrate bounds to memory loss, and thus to bounded rationality. We apply the model to single-agent conventions: Conventions made between an agent and himself.
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|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.|
Web page: http://econ.tau.ac.il/foerder/about
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- Ronald Fagin & Joseph Y. Halpern & Yoram Moses & Moshe Y. Vardi, 2003. "Reasoning About Knowledge," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262562006, December.
- Modica, Salvatore & Rustichini, Aldo, 1999. "Unawareness and Partitional Information Structures," Games and Economic Behavior, Elsevier, vol. 27(2), pages 265-298, May.
- Giacomo Bonanno & Pierpaolo Battigalli, 2004.
"The Logic Of Belief Persistency,"
9518, University of California, Davis, Department of Economics.
- Barton L. Lipman, 1993.
"Information Processing and Bounded Rationality: A Survey,"
872, Queen's University, Department of Economics.
- Barton L. Lipman, 1995. "Information Processing and Bounded Rationality: A Survey," Canadian Journal of Economics, Canadian Economics Association, vol. 28(1), pages 42-67, February.
- James Dow, 1991. "Search Decisions with Limited Memory," Review of Economic Studies, Oxford University Press, vol. 58(1), pages 1-14.
- Hvide, H.K., 1997. "SElf-Awareness, Uncertainty, and Markets with Overconfidence," Papers 9/97, Norwegian School of Economics and Business Administration-.
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