212) On an issue like the debate over the appropriate policy response to boundedly
rational consumer decisionmaking, for example, this may be the only sensible way to resolve the irreconcilable differences evoked by the debate over paternalism.
tA] onto the eigenspaces associated with a bounded subset of [sigma](A) becomes boundedly
Garrett (1992), |Learning about Mmnetary union: an analysis of boundedly
rational learning in European labour markets', National Institute Discussion Paper No.
This can, in turn, increase the transaction costs from boundedly
Other terms in the literature also need further clarification, including the terms boundedly
rational, ecologically rational, and socially rational (Chase, Hertwig, and Gigerenzer 1998).
The intuition behind this assumption is that even if boundedly
rational people may not want to exclude the possibility that an event occurs, they may still be unable to specify how likely the event is.
The article by Michael Cwikel is devoted to a more than 40 years open problem of whether an operator mapping one Banach couple boundedly
into another and acting compactly on one (or even both) of the 'endpoint' spaces also acts compactly between the complex interpolation spaces generated by these couples.
In addition, as with standard form contracts, settlors are boundedly
rational and underestimate the odds that fine-print trust clauses will substantially affect beneficiaries' rights.
1203, 1243 (2003) ("Because of cognitive limitations, as well as external constraints on time and effort, all plausible decisionmaking approaches are necessarily boundedly
In a recent issue of this journal, an interesting paper by West and Linster (2003) used fuzzy rules to show that Nash equilibrium behavior can be achieved by boundedly
rational agents in two-player games with infinite strategy spaces.
First, the assumption of rationality, even boundedly
so, was relaxed.
Signals or cues, so long as they are accessible and relevant to the decision maker, are useful sources of information for boundedly
rational individuals who rely on mental short cuts to make consistent decisions on complex issues without having complete information (Mondak 1993, 189; Spence 1974; Zaller 1992).