Bounded rationality and irreversible network change
نویسندگان
چکیده
منابع مشابه
Bounded Rationality and Irreversible Network Change
A network change is said to be irreversible if the initial network equilibrium cannot be restored by revoking the change. The phenomenon of irreversible network change has been observed in reality. To model this phenomenon, we develop a day-to-day dynamic model whose fixed point is a boundedly rational user equilibrium (BRUE) flow. Our BRUE based approach to modeling irreversible network change...
متن کاملBounded rationality and repeated network formation
We define a finite-horizon repeated network formation game with consent, and study the differences induced by different levels of individual rationality. We prove that perfectly rational players will remain unconnected at the equilibrium, while this result does not hold when, following Neyman (1985), players are assumed to behave as finite automata. We define two types of equilibria, namely the...
متن کاملBounded Rationality
The notion of bounded rationality has recently gained considerable popularity in the behavioural and social sciences. This article surveys the different usages of the term, in particular the way ‘anomalous’ behavioural phenomena are elicited, how these phenomena are incorporated in model building, and what sort of new theories of behaviour have been developed to account for bounded rationality ...
متن کاملBounded Rationality
BOUNDED RATIONALITY: rationality as exhibited by decision makers of limited abilities. The ideal of RATIONAL DECISION MAKING formalized in RATIONAL CHOICE THEORY, UTILITY THEORY, and the FOUNDATIONS OF PROBABILITY requires choosing so as to maximize a measure of expected utility that reflects a complete and consistent preference order and probability measure over all possible contingencies. Thi...
متن کاملBounded Rationality
Findings from behavioral organization theory, behavioral decision theory, survey research, and experimental economics leave no doubt about the failure of rational choice as a descriptive model of human behavior. But this does not mean that people and their politics are irrational. Bounded rationality asserts that decision makers are intendedly rational; that is, they are goaloriented and adapti...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Transportation Research Part B: Methodological
سال: 2011
ISSN: 0191-2615
DOI: 10.1016/j.trb.2011.05.026