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Erschienen in:
1996 | OriginalPaper | Buchkapitel
The Credible Modelling of Economic Agents with Limited Rationality
verfasst von : Bruce Edmonds, Scott Moss
Erschienen in: Artificial Intelligence in Economics and Managment
Verlag: Springer US
Enthalten in: Professional Book Archive
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A model of bounded rationality suitable for modelling economic agents is proposed. Agents’ beliefs are modeled as descriptions of tentative models. These models are inductively found by a limited incremental search based on the current model and by combinations of past models from a space restricted by the imposition of a priori beliefs. The action of the agent is then decided by a search of the goal space where it intersects the model space (if any).