Archivio per 17 giugno 2012

17
Giu
12

Behavioural Anomalies, Bounded Rationality and Simple Heuristics

See on Scoop.itBounded Rationality and Beyond

 The use of bounded rationality in explaining economic phenomena has attracted growing attention. In spite of this, there is still considerable disagreement regarding the meaning of bounded rationality. Basov (2005) argues that when modeling boundedly rational behaviour it is desirable to start with an explicit formulation of the learning process. A complete understanding of the boundedly rational decision-making process requires development of an evolutionary-dynamic model which can give rise to such learning processes. Evolutionary dynamics implies that individuals use heuristics to adjust their choices in light of past experiences, moving in the direction that appears most beneficial, where these adjustment rules are assumed ‘hardwired’ into human cognition through the process of biological evolution. In this paper we elaborate on the latter point by building a model of evolutionary selection relevant to heuristics. We show that in addition to explaining the origin of learning rules this approach also sheds light on some well documented preference anomalies.

See on ideas.repec.org

Annunci
17
Giu
12

Behavioural Anomalies, Bounded Rationality and Simple Heuristics

See on Scoop.itBounded Rationality and Beyond

 The use of bounded rationality in explaining economic phenomena has attracted growing attention. In spite of this, there is still considerable disagreement regarding the meaning of bounded rationality.

See on ideas.repec.org

17
Giu
12

Behavioural Anomalies, Bounded Rationality and Simple Heuristics

See on Scoop.itBounded Rationality and Beyond

 The use of bounded rationality in explaining economic phenomena has attracted growing attention. In spite of this, there is still considerable disagreement regarding the meaning of bounded rationality.

See on ideas.repec.org

17
Giu
12

Bounded rationality: static versus dynamic approaches

See on Scoop.itBounded Rationality and Beyond

Two kinds of theories of boundedly rational behavior are possible. Static theories focus on stationary behavior and do not include any explicit mechanism for temporal change. Dynamic theories, on the other hand, explicitly model the fine-grain adjustments made by the subjects in response to their recent experiences. The main contribution of this paper is to argue that the restrictions usually imposed on the distribution of choices in the static approach are generically not supported by a dynamic adjustment mechanism. The genericity here is understood both in the measure theoretic and in the topological sense.

See on www.springerlink.com

17
Giu
12

Economic Theory, Volume 25, Number 4 – SpringerLink

See on Scoop.itBounded Rationality and Beyond

See on www.springerlink.com

17
Giu
12

If players are sparse social dilemmas are too: Importance of percolation for evolution of cooperation : Scientific Reports : Nature Publishing Group

See on Scoop.itBounded Rationality and Beyond

Spatial reciprocity is a well known tour de force of cooperation promotion. A thorough understanding of the effects of different population densities is therefore crucial.

See on www.nature.com

17
Giu
12

Cooperation and the evolution of intelligence

See on Scoop.itBounded Rationality and Beyond

The high levels of intelligence seen in humans, other primates, certain cetaceans and birds remain a major puzzle for evolutionary biologists, anthropologists and psychologists. It has long been held that social interactions provide the selection pressures necessary for the evolution of advanced cognitive abilities (the ‘social intelligence hypothesis’), and in recent years decision-making in the context of cooperative social interactions has been conjectured to be of particular importance.

 

Here we use an artificial neural network model to show that selection for efficient decision-making in cooperative dilemmas can give rise to selection pressures for greater cognitive abilities, and that intelligent strategies can themselves select for greater intelligence, leading to a Machiavellian arms race. Our results provide mechanistic support for the social intelligence hypothesis, highlight the potential importance of cooperative behaviour in the evolution of intelligence and may help us to explain the distribution of cooperation with intelligence across taxa.

See on rspb.royalsocietypublishing.org




Time is real? I think not

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