Sentence examples for limited rationality from inspiring English sources

Yet evolutionary game theory seeks to describe individuals of limited rationality (commonly known as "boundedly rational" individuals), and the utility theory employed in traditional game theory assumes highly rational individuals.

Not only do these data and information pile up without ever 'speaking for themselves', but they also determine a permanent state of limited rationality on all levels, from social to organizational.

No...At bottom, I'm in the Herbert Simon camp of limited rationality.

Therefore, our approach can offer a more realistic model for multiple users with limited rationality.

Consequently to gain insight into the justificatory problem among citizens of limited rationality, the parties must model our imperfect rationality.

Debate about the appropriate design of energy policy hinges critically on whether consumers might undervalue energy efficiency, due to myopia or some other manifestation of limited rationality.

This could indicate limited strategic rationality of trustors.

We run up to those limits of comprehension, the limits of logic, limits of rationality, when we start to dive deeper into these core questions.

Practical rationality points to teaching knowledge as not limited to being rational in the sense of goal oriented or correct but also rational as sensible, adapted to the demands of the work that teachers do.

As rationality is limited, we are not able to anticipate every situation anyway.

Simon dealt with the first: the systematic incompleteness of the information, with the idea of a rationality which is limited by uncertainty, to which actors respond producing frames and routines and limiting their explorations to alternatives and solutions considered "good enough" according to what their problem definition allows.