Bounded Rationality 1

15Sep07

Here we go yet again!

I guess my blog is pretty much turning into a place i can dump the things im digging into currently. Hopefully it will become also more like a journal as well but for right now I guess the groove isn’t yet entirely there

Here’s the first link for Bounded Rationality
. More to follow ❤

Bounded Rationality
In 1957, Simon proposed the notion of

Bounded Rationality: that property of an agent that behaves in a manner that is nearly optimal with respect to its goals as its resources will allow.

Bounded rationality better describes agent behaviors than Anderson’s optimal rationality approach for the following reasons:

* agents are not optimal
* the methods by which architectural tasks are performed significantly affect the agents behaviors
* the representations of information and the strategies for solving problems must all be discovered by the agent
* agents’ behaviors across isomorphic task domains are not constant

In considering bounded rationality, Simon suggests that researchers not limit their focus to signature data but look for all the data they can in order to uncover the underlying processes. He concludes by providing a lower bound of relevance to cognitive analysis:

The exact ways in which neurons accomplish their functions is not important- only their functional capabilities and the organization of these.

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