Sublime

Famed psychologist Abraham Maslow https://t.co/U87XOqXpbD

rationality is a method of dealing with uncertainty by devouring information and making simplifying assumptions about the outside world until you can convince yourself that you understand it

Realistically, agents not identical, don’t know other agents’ circumstances or likely behavior; or situation complicated and not fully known. There is fundamental uncertainty: Therefore “the problem” is not well-defined; Therefore “rationality” is not well-defined; Therefore “optimal” behavior is not well-defined; Behavior and outcome unlikely to b

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As a new point of view we turn to bounded rationality, a departure from the mainstream tradition. We no longer can assume that every agent is a perfect calculator. This point of view is given a great deal of emphasis by Herbert Simon. Simon argued that people do not maximize. When they’re forecasting the future, they do not perform the task of rati

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