3 articles for “Bounded Rationality”

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Research ArticleOpen accessPhrase in the titleOn the Evolutionary Fitness of Bounded Rationality: Heterogeneous Populations in Antagonistic InteractionsTassos PatokosConventional game theory assumes hyper-rational players, while evolutionary game theory abandons the assumption. This paper studies what happens when agents of both profiles co-exist and get engaged in a series of antagonistic interactions (the Hawk-Dove game). It is shown that if rational agents are perfectly informed as to the type of their opponent, they find it optimal to always be … …American Journal of Applied Sciences, Vol. 2, Issue 13 · 1 Dec 2005 · 8,022 accessesView PDF Cite

Research ArticleOpen accessIn the keywordsDOES FRAMING AFFECT RISK ATTITUDE? EXPERIMENTAL EVIDENCE FROM CREDIT MARKETDmitry Vladimirovich BurakovIn this article we study the effect of framing on the attitude of lenders toward risk over a credit cycle and also review potential causes of negative framing when making decisions. Using an experimental setting, we present evidence of frame of losses’ significant impact on willingness to accept credit risk: In comparison with frame of gains, willingness to accept credit … …American Journal of Applied Sciences, Vol. 11, Issue 3 · 2 Jan 2014 · 6,718 accessesView PDF Cite

Research ArticleOpen accessIn the abstractImproving Client Internal Capability to Monitor Public-Private Partnerships Projects: A ReviewNoor Amila Wan Abdullah Zawawi, Arazi Idrus, Abdullahi Ahmed Umar, Mohd Faris KhamidiPublic-Private Partnerships (PPP) or Private Finance Initiatives (PFI) are increasingly becoming very popular with governments across the globe for the provision of public infrastructure and services. When contracted, the public sector client believing the private sector will act in accordance with ‘bounded rationality’, ignores the constant monitoring and review process which is an integral part of any project. However, the … …American Journal of Engineering and Applied Sciences, Vol. 5, Issue 4 · 12 Feb 2013 · 7,887 accessesView PDF Cite