A Bounded Rationality Model of Private Energy Investment Decisions

2006 ◽  
Author(s):  
Tobias Wittmann ◽  
Robbie Ian Morrison ◽  
Thomas Bruckner
Keyword(s):  
Bounded Rationality ◽  
Investment Decisions ◽  
Energy Investment ◽  
Bounded Rationality Model ◽  
Rationality Model

scholarly journals Bounded Rationality of Generalized Abstract Fuzzy Economies

2014 ◽  
Vol 2014 ◽  
pp. 1-6
Author(s):  
Lei Wang ◽  
Yu Fu
Keyword(s):  
Bounded Rationality ◽  
Structural Stability ◽  
Nonlinear Scalarization ◽  
Bounded Rationality Model ◽  
Rationality Model

By using a nonlinear scalarization technique, the bounded rationality modelMfor generalized abstract fuzzy economies in finite continuous spaces is established. Furthermore, by using the modelM, some new theorems for structural stability and robustness to (λ,ϵ)-equilibria of generalized abstract fuzzy economies are proved.

scholarly journals Stability of equilibria for population games with uncertain parameters under bounded rationality

2021 ◽  
Vol 2021 (1) ◽  
Author(s):  
Wei Zhao ◽  
Hui Yang ◽  
Xicai Deng ◽  
Chongyi Zhong
Keyword(s):  
Fixed Point ◽  
Bounded Rationality ◽  
Uncertain Parameters ◽  
Stability Of Equilibria ◽  
Population Games ◽  
Existence And Stability ◽  
Payoff Functions ◽  
The Stability ◽  
Bounded Rationality Model ◽  
Rationality Model

AbstractUnder the assumption that the range of varying uncertain parameters is known, some results of existence and stability of equilibria for population games with uncertain parameters are investigated in this paper. On the basis of NS equilibria in classical noncooperative games, the concept of NS equilibria for population games with uncertain parameters is defined. Using some hypotheses about the continuity and convexity of payoff functions, the existence of NS equilibria in population games is also proved by Fan–Glicksberg fixed point theorem. Furthermore, we establish a bounded rationality model of population games with uncertain parameters, and draw the conclusions about the stability of NS equilibrium in this model by constructing the rationality function and studying its properties.

scholarly journals ‘BUT CAN'T WE GET THE SAME THING WITH A STANDARD MODEL?’ RATIONALIZING BOUNDED-RATIONALITY MODELS

2011 ◽  
Vol 27 (1) ◽  
pp. 23-43 ◽  
Author(s):  
Ran Spiegler
Keyword(s):  
Standard Model ◽  
Rational Choice ◽  
Bounded Rationality ◽  
Burden Of Proof ◽  
Market Model ◽  
Test Case ◽  
Common Criticism ◽  
To Come ◽  
Bounded Rationality Model ◽  
Rationality Model

This paper discusses a common criticism of economic models that depart from the standard rational-choice paradigm - namely, that the phenomena addressed by such models can be ‘rationalized’ by some standard model. I criticize this criterion for evaluating bounded-rationality models. Using a market model with boundedly rational consumers due to Spiegler (2006a) as a test case, I show that even when it initially appears that a bounded-rationality model can be rationalized by a standard model, rationalizing models tend to come with unwarranted ‘extra baggage’. I conclude that we should impose a greater burden of proof on rationalizations that are offered in refutation of bounded-rationality models.

scholarly journals Learning by helping: a bounded rationality model of mentoring

2001 ◽  
Vol 45 (2) ◽  
pp. 113-132 ◽  
Author(s):  
Mahmood Arai ◽  
Antoine Billot ◽  
Joseph Lanfranchi
Keyword(s):  
Bounded Rationality ◽  
Bounded Rationality Model ◽  
Rationality Model
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