Archivio per 23 dicembre 2011

23
Dic
11

Bounded Rationality in Macroeconomics: Thomas J. Sargent Online Book at Questia Online Library

Via Scoop.itBounded Rationality and Beyond

Bp Bounded Rationality In Macroeconomics Thomas J Sargent By Thomas J Sargent – Scholarly books, journals and articles Bp Bounded Rationality In Macroeconomics Thomas J Sargent By Thomas J Sargent at Questia, world’s largest online library and…
Via www.questia.com

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23
Dic
11

Inductive Reasoning and Bounded Rationality

Via Scoop.itBounded Rationality and Beyond
The type of rationality we assume in economics–perfect, logical, deductive rationality–is extremely useful in generating solutions to theoretical problems. But it demands much of human behavior–much more in fact than it can usually deliver. If we were to imagine the vast collection of decision problems economic agents might conceivably deal with as a sea or an ocean, with the easier problems on top and more complicated ones at increasing depth, then deductive rationality would describe human behavior accurately only within a few feet of the surface. For example, the game Tic-Tac-Toe is simple, and we can readily find a perfectly rational, minimax solution to it. But we do not find rational “solutions” at the depth of Checkers; and certainly not at the still modest depths of Chess and Go.
Via tuvalu.santafe.edu




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