منابع مشابه
Bounding Rationality by Discounting Time
Consider a game where Alice generates an integer and Bob wins if he can factor that integer. Traditional game theory tells us that Bob will always win this game even though in practice Alice will win given our usual assumptions about the hardness of factoring. We define a new notion of bounded rationality, where the payoffs of players are discounted by the computation time they take to produce ...
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The temporal location of an event influences the way people mentally represent that event. We suggest (a) that such representational differences can produce an affective forecasting error that we call future anhedonia, which is the belief that hedonic states will be less intense in the future than in the present, and (b) that future anhedonia plays a role in time discounting (i.e., the tendency...
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The objective of this paper is to determine the socially optimal discount rate for public investment projects that entail costs and benefits in the very long run. We suppose that there is an exogenous process for the growth of consumption per capita, which is stochastic. We first evaluate the determinants of the discount rate for a specific horizon when the representative agent has a recursive ...
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In this paper three adaptive agent models incorporating triggered emotional responses are explored and evaluated on their rationality. One of the models is based on temporal discounting second on memory traces and the third one on hebbian learning with mutual inhibition. The models are assessed using a measure reflecting the environment’s behaviour and expressing the extent of rationality. Simu...
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ژورنال
عنوان ژورنال: Topoi
سال: 2018
ISSN: 0167-7411,1572-8749
DOI: 10.1007/s11245-018-9539-3