Theory of Boundedly Rational Planned Behavior: A New Model

The theory of planned behavior and managers’ sustainability reporting model

The goal of this research is to explore managers’ approaches, viewpoints and some other psychological factors on sustainability reporting regarding to theory of planned behavior (TPB). Thus the research includes top and middle managers of listed and non listed companies of Iran stock exchange. Data was analyzed by partial linear squares (PLS). Findings show that subjective norms which are deri...

A Model of Boundedly Rational Consumer Choice

The paper presents an extended version of the standard textbook problem of consumer choice. As usual, agents have to decide about their desired quantities of various consumption goods, at the same time taking into account their limited budget. Prices for the goods are not fixed but arise from a Walrasian interaction of total demand and a stylized supply function for each of the goods. After sho...

A Model of Boundedly Rational “Neuro” Agents

We consider a model in which each agent in a population chooses one of two options. Each agent does not know what the available options are and can choose an option only after observing another agent who has already chosen that option. In addition, the agents’ preferences over the two options are correlated. An agent can either imitate an observed agent or wait until he meets two agents who mad...

A Boundedly Rational Decision Algorithm

Boundedly Rational Dynamic Programming

This paper proposes a way to model boundedly rational dynamic programming in a parsimonious and tractable way. The framework is quite general, and has at its core a behavioral version of the Bellman equation, in which the agent uses a simplified model of the world and the consequences of his actions. It is then applied to some of the canonical models in macroeconomics and finance. In the consum...