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Why Bounded Rationality?
¿Por qué “racionalidad limitada”?
¿Por qué no “racionalidad ilimitada”?
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Cuatro razones por las cuales se incorpora la racionalidad “limitada” en los modelos económicos:
I) Evidencia de que es importanteII) Los modelos de “RL” son novedosos y ampliosIII) Fallan la justificaciones de asumir una racionalidad ilimitadaIV) Reducción de costos
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I) Spoiling a good story: evidence of bounds on rationality
1) Direct evidence-rationality tests on single individuals.
2) Confounded evidence-testing economic rationality jointly with other hypotheses
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II) Bounded Rationality in Economic Models: A Sampler
1) Firms, organizations and institutions.
2) X-Inefficiency
3) Boundedly rational choice – early models
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II) Bounded Rationality in Economic Models: A Sampler
4) Boundedly rational choice – heuristics, norms, and other imports from sister disciplines
5) Evolutionary Economics
6) Bounded rationality and market outcomes
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II) Bounded Rationality in Economic Models: A Sampler
7) Evolution to rational expectations in markets
8) Near rationality, complexity, and market outcome
9) Self-organizing markets
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II) Bounded Rationality in Economic Models: A Sampler
10) Population distribution models
11) Games
12) Dynamics and simulation
13) Classifier systems
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II) Bounded Rationality in Economic Models: A Sampler
14) Economy of the mind – deliberation technologies and deliberation cost
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III. Yes, But As If: Arguments for Unbounded Rationality
1) “As if”
2) Learning
3) Survivors and tricksters
4) Do not quarrel with sucess
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III. Yes, But As If: Arguments for Unbounded Rationality
5) Sidewalk twenties
6) Discipline and “ad hocery”
7) Tractability and definite outcomes
8) Definition
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IV. No free lunch, Yes bounded rationality
1) Economizing Economizing: the regress issue
2) An example on the regress issue
3) Four rationalities
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IV. No free lunch, Yes bounded rationality
4) Ex Ante vs. Ex Post Posts: Similarities of Deliberation Cost and Information Cost
5) Elephants in the Living Room
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Frases
Hamlet: “What a piece of work is a man! How noble in reason! How infinite in faculties!”
Puck: “Lord, what fools these mortals be!”