vendredi 2 octobre 2015

Bounded rationality: the legacy of H A Simon

One of the major questions of our times is:
are social media increasing the extent of our rationality or the opposite? Bounded rationality is dependant on:
  • Limiting the types of utility functions
  • Recognizing the costs of gathering and processing information
  • Possibility of having a "vector" or "multi-valued" utility function
It seems that the high flow of information is sometimes a supplementary difficulty for our brain to make rational choices... This depends on the quality of the flow, its appropriateness, the power of our brain, the level of complexity of the enigma. But is it useful to modelize the process or only the result?
 U(s) \geq U^*-\epsilon
 Moss; Rae, eds. (1992). "Some Thoughts on Artificial Intelligence and Economic Theory". Artificial Intelligence and Economic Analysis. Edward Elgar. pp. 131–154.

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