Download or read book Models of Bounded Rationality and Mechanism Design written by Jacob Glazer and published by World Scientific Publishing Company. This book was released on 2016-08-22 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the authors' joint papers from over a period of more than twenty years. The collection includes seven papers, each of which presents a novel and rigorous model in Economic Theory. All of the models are within the domain of implementation and mechanism design theories. These theories attempt to explain how incentive schemes and organizations can be designed with the goal of inducing agents to behave according to the designer's (principal's) objectives. Most of the literature assumes that agents are fully rational. In contrast, the authors inject into each model an element which conflicts with the standard notion of full rationality, demonstrating how such elements can dramatically change the mechanism design problem. Although all of the models presented in this volume touch on mechanism design issues, it is the formal modeling of bounded rationality that the authors are most interested in. A model of bounded rationality signifies a model that contains a procedural element of reasoning that is not consistent with full rationality. Rather than looking for a canonical model of bounded rationality, the articles introduce a variety of modeling devices that will capture procedural elements not previously considered, and which alter the analysis of the model. The book is a journey into the modeling of bounded rationality. It is a collection of modeling ideas rather than a general alternative theory of implementation.
Download or read book The Future of Economic Design written by Jean-François Laslier and published by Springer Nature. This book was released on 2019-11-15 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays represents responses by over eighty scholars to an unusual request: give your high level assessment of the field of economic design, as broadly construed. Where do we come from? Where do we go from here? The book editors invited short, informal reflections expressing deeply felt but hard to demonstrate opinions, unsupported speculation, and controversial views of a kind one might not normally risk submitting for review. The contributors – both senior researchers who have shaped the field and promising, younger researchers – responded with a diverse collection of provocative pieces, including: retrospective assessments or surveys of the field; opinion papers; reflections on critical points for the development of the discipline; proposals for the immediate future; "science fiction"; and many more. The readers should have fun reading these unusual pieces – as much as the contributors enjoyed writing them.
Download or read book Collectives and the Design of Complex Systems written by Kagan Tumer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many complex systems found in nature can be viewed as function optimizers. In particular, they can be viewed as such optimizers of functions in extremely high dimensional spaces. Given the difficulty of performing such high-dimensional op timization with modern computers, there has been a lot of exploration of computa tional algorithms that try to emulate those naturally-occurring function optimizers. Examples include simulated annealing (SA [15,18]), genetic algorithms (GAs) and evolutionary computation [2,3,9,11,20-22,24,28]. The ultimate goal of this work is an algorithm that can, for any provided high-dimensional function, come close to extremizing that function. Particularly desirable would be such an algorithm that works in an adaptive and robust manner, without any explicit knowledge of the form of the function being optimized. In particular, such an algorithm could be used for distributed adaptive control---one of the most important tasks engineers will face in the future, when the systems they design will be massively distributed and horribly messy congeries ofcomputational systems.
Download or read book Modeling Bounded Rationality written by Ariel Rubinstein and published by MIT Press. This book was released on 1998 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions.In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response. The Zeuthen Lecture Book series is sponsored by the Institute of Economics at the University of Copenhagen.
Download or read book Agent Mediated Electronic Commerce Designing Trading Agents and Mechanisms written by Han La Poutré and published by Springer. This book was released on 2006-11-23 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the thoroughly refereed post-proceedings of the 7th International Workshop on Agent-Mediated Electronic Commerce, AMEC VII 2005, held in Utrecht, Netherlands in July 2005, as part of AAMAS 2005, and the third Workshop on Trading Agent Design and Analysis, TADA 2005, held in Edinburgh, UK in August 2005, in the course of the IJCAI 2005 conference meetings. The seven revised full AMEC 2005 papers presented were carefully selected.
Download or read book Handbook of Applied Algorithms written by Amiya Nayak and published by John Wiley & Sons. This book was released on 2007-11-09 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the benefits of applying algorithms to solve scientific, engineering, and practical problems Providing a combination of theory, algorithms, and simulations, Handbook of Applied Algorithms presents an all-encompassing treatment of applying algorithms and discrete mathematics to practical problems in "hot" application areas, such as computational biology, computational chemistry, wireless networks, and computer vision. In eighteen self-contained chapters, this timely book explores: * Localized algorithms that can be used in topology control for wireless ad-hoc or sensor networks * Bioinformatics algorithms for analyzing data * Clustering algorithms and identification of association rules in data mining * Applications of combinatorial algorithms and graph theory in chemistry and molecular biology * Optimizing the frequency planning of a GSM network using evolutionary algorithms * Algorithmic solutions and advances achieved through game theory Complete with exercises for readers to measure their comprehension of the material presented, Handbook of Applied Algorithms is a much-needed resource for researchers, practitioners, and students within computer science, life science, and engineering. Amiya Nayak, PhD, has over seventeen years of industrial experience and is Full Professor at the School of Information Technology and Engineering at the University of Ottawa, Canada. He is on the editorial board of several journals. Dr. Nayak's research interests are in the areas of fault tolerance, distributed systems/algorithms, and mobile ad-hoc networks. Ivan StojmenoviC?, PhD, is Professor at the University of Ottawa, Canada (www.site.uottawa.ca/~ivan), and Chair Professor of Applied Computing at the University of Birmingham, United Kingdom. Dr. Stojmenovic? received the Royal Society Wolfson Research Merit Award. His current research interests are mostly in the design and analysis of algorithms for wireless ad-hoc and sensor networks.
Download or read book Routledge Handbook of Bounded Rationality written by Riccardo Viale and published by Routledge. This book was released on 2020-12-02 with total page 844 pages. Available in PDF, EPUB and Kindle. Book excerpt: Herbert Simon’s renowned theory of bounded rationality is principally interested in cognitive constraints and environmental factors and influences which prevent people from thinking or behaving according to formal rationality. Simon’s theory has been expanded in numerous directions and taken up by various disciplines with an interest in how humans think and behave. This includes philosophy, psychology, neurocognitive sciences, economics, political science, sociology, management, and organization studies. The Routledge Handbook of Bounded Rationality draws together an international team of leading experts to survey the recent literature and the latest developments in these related fields. The chapters feature entries on key behavioural phenomena, including reasoning, judgement, decision making, uncertainty, risk, heuristics and biases, and fast and frugal heuristics. The text also examines current ideas such as fast and slow thinking, nudge, ecological rationality, evolutionary psychology, embodied cognition, and neurophilosophy. Overall, the volume serves to provide the most complete state-of-the-art collection on bounded rationality available. This book is essential reading for students and scholars of economics, psychology, neurocognitive sciences, political sciences, and philosophy.
Download or read book Social Norms Bounded Rationality and Optimal Contracts written by Suren Basov and published by Springer. This book was released on 2016-05-20 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.
Download or read book Peer to Peer Systems II written by Frans Kaashoek and published by Springer Science & Business Media. This book was released on 2003-08-21 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: In very short time, peer-to-peer computing has evolved from an attractive new paradigm into an exciting and vibrant research field bringing together researchers from systems, networking, and theory. This book constitutes the thoroughly refereed post-proceedings of the Second International Workshop on Peer-to-Peer Systems, IPTPS 2003, held in Berkeley, CA, USA in February 2003. The 27 revised papers presented together with an introductory summary of the discussions at the workshop were carefully selected during two rounds of reviewing and revision from initially 166 submissions. The papers are organized in topical sections on experience with P2P; theory and algorithms, P2P in a broader perspective; incentive and fairness; new DHT designs; naming, indexing, and searching; file sharing; and networking and applications.
Download or read book Foundations of Rational Agency written by Michael Wooldridge and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents an advanced, comprehensive state-of-the-art survey of the field of rational agency as it stands today. It covers the philosophical foundations of rational agency, logical and decision-theoretic approaches to rational agency, multi-agent aspects of rational agency and a number of approaches to programming rational agents. It will be of interest to researchers in logic, mainstream computer science, the philosophy of rational action and agency, and economics.
Download or read book Robust Mechanism Design written by Dirk Bergemann and published by World Scientific. This book was released on 2012 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Download or read book Microeconomic Theory for the Social Sciences written by Takashi Hayashi and published by Springer Nature. This book was released on 2021-07-21 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook covers microeconomic theory at the level of intermediate and advanced undergraduates. It is also intended as an introduction for those with other intellectual and academic backgrounds who may not necessarily agree with “mainstream” economists but at least are interested knowing how they think and see things. The book provides thorough explanations of definitions and assumptions that the theory is based upon. It provides comprehensive accounts of motivations and reservations behind the theory. As well, it precisely presents the logical process of how the assumptions lead to the conclusion, conveying the intuition and the key of the arguments. An abundance of topics is included here: individual choice, general equilibrium, partial equilibrium, game theory, imperfect competition, transaction under incomplete information, market failures, welfare economics, social choice and mechanism design. The book is a valuable resource for any reader studying or simply interested in microeconomic theory.
Download or read book Bounded Rationality written by Gerd Gigerenzer and published by MIT Press. This book was released on 2002-07-26 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning. This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart heuristics can exploit the structure of environments.
Download or read book Peer to peer Systems written by and published by . This book was released on 2003 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Gameful World written by Steffen P. Walz and published by MIT Press. This book was released on 2015-01-16 with total page 687 pages. Available in PDF, EPUB and Kindle. Book excerpt: What if every part of our everyday life was turned into a game? The implications of “gamification.” What if our whole life were turned into a game? What sounds like the premise of a science fiction novel is today becoming reality as “gamification.” As more and more organizations, practices, products, and services are infused with elements from games and play to make them more engaging, we are witnessing a veritable ludification of culture. Yet while some celebrate gamification as a possible answer to mankind's toughest challenges and others condemn it as a marketing ruse, the question remains: what are the ramifications of this “gameful world”? Can game design energize society and individuals, or will algorithmic incentive systems become our new robot overlords? In this book, more than fifty luminaries from academia and industry examine the key challenges of gamification and the ludification of culture—including Ian Bogost, John M. Carroll, Bernie DeKoven, Bill Gaver, Jane McGonigal, Frank Lantz, Jesse Schell, Kevin Slavin, McKenzie Wark, and Eric Zimmerman. They outline major disciplinary approaches, including rhetorics, economics, psychology, and aesthetics; tackle issues like exploitation or privacy; and survey main application domains such as health, education, design, sustainability, or social media.
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
