Modeling Bounded Rationality
Average customer rating: 4.5 out of 5 stars
  • Insightful, but less economics and more psychology
  • Interesting Reading
  • Fun with bounded rationality
Modeling Bounded Rationality
Ariel Rubinstein
Manufacturer: The MIT Press
ProductGroup: Book
Binding: Paperback

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ASIN: 0262681005

Book Description

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.

Customer Reviews:

3 out of 5 stars Insightful, but less economics and more psychology.......2004-07-11

Very well written in terms of technical coverage and originality of modelling bounded rationality and its application to game theory. However, the author develops most of his theories from either assumption and speculation or no justification at all in terms of formally depicting human rationality. It would have been a much more powerful book if there was a greater coverage of empirical evidence and bridging between psychology, artificial intelligence and economics. This lop-sided approach of modelling using solely game theoretic terminology and concepts ambiguous in their relevancy to simulating human thought and behaviour. However, there are some chapters, such as the one on knowledge representation and the other on limited memory that are the exception to this. Overall though, the book is still quite innovative and worth a read.

5 out of 5 stars Interesting Reading.......2002-09-14

A very interesting book on an interesting subject. The mathematic is very easy, the thoughts are not, or at least not always.
For anybody interested in this subject, this is good reading material.

5 out of 5 stars Fun with bounded rationality.......2000-04-03

This is a terrific book for anyone who wants to know more about tractable ways to relax the usual economist's assumption of perfect rationality. The book is well written and includes some exercises which would lead an ambitious reader to write his own book on the topic. If you are interested in bounded rationality, this is a book you should own.
Modeling Bounded Rationality. (book reviews): An article from: Southern Economic Journal
Average customer rating: Not rated
    Modeling Bounded Rationality. (book reviews): An article from: Southern Economic Journal
    Daniel Friedman
    Manufacturer: Southern Economic Association
    ProductGroup: Book
    Binding: Digital
    ASIN: B00098D3IY
    Release Date: 2005-07-28

    Book Description

    This digital document is an article from Southern Economic Journal, published by Southern Economic Association on October 1, 1998. The length of the article is 1016 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

    Citation Details
    Title: Modeling Bounded Rationality. (book reviews)
    Author: Daniel Friedman
    Publication: Southern Economic Journal (Refereed)
    Date: October 1, 1998
    Publisher: Southern Economic Association
    Volume: v65 Issue: n2 Page: p366(3)

    Article Type: Book Review

    Distributed by Thomson Gale
    Modeling Bounded Rationality
    Average customer rating: Not rated
      Modeling Bounded Rationality
      Ariel (Author) Rubinstein
      Manufacturer: The MIT Press
      ProductGroup: Book
      Binding: Paperback
      ASIN: B000OR9QH2
      Modeling Bounded Rationality (Zeuthen Lecture Book Series)
      Average customer rating: Not rated
        Modeling Bounded Rationality (Zeuthen Lecture Book Series)
        Ariel Rubinstein
        Manufacturer: Mit Pr
        ProductGroup: Book
        Binding: Paperback
        ASIN: B000ORC6AG
        Modeling the interacting decision maker with bounded rationality (LIDS-P)
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            Part of the brand new One Step Ahead series, this book is a lively, accessible, and highly illustrated guide to editing and revising. It provides a practical approach for office workers, students, and newsletter editors. Whether editing your own work or text written by others, it suggests
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            Training Design Guide for the Hospitality Industry
            Average customer rating: 5 out of 5 stars
            • Soooo Helpful
            Training Design Guide for the Hospitality Industry
            Christine Jaszay , and Paul Dunk
            Manufacturer: Cengage Delmar Learning
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            Book Description

            Experienced and new managers alike agree that successful management in the hospitality industry depends on top quality staffing as much or more than any other management area. As the service sector has become the largest employer nationally and internationally, it has become more and more apparent that effective employee training is key to effective facility and property management. From employee retention and satisfaction to efficiency and guest satisfaction, training of employees is critical to success, especially in the hospitality, travel, and tourism industry. Effective training design then helps to ensure the resources invested in that area have the highest possible return. Like many other skills, effective training design is a skill that must be learned, but is often not taught in a practical and hands-on method … until now. Useful as both a learning tool and a reference guide, this book will be a great resource to all managers in the industry.

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            5 out of 5 stars Soooo Helpful.......2007-09-13

            I bought this book because I am a banquet manager with a training program that lacks so much. I had no idea where to start. I read this book and am now well on my way to designing a training program beyond what I would have ever expected. The best thing is that the book gives you the overview of the design, and then follows up with step by steps and examples for each of the steps. This book is amazing. It was so helpful and I really recommend it for anyone who needs support while designing a new or adapting an old training program.

            The Other 90%: How to Unlock Your Vast Untapped Potential for Leadership and Life
            Average customer rating: 4 out of 5 stars
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            • Inspirational, motivational, but not exactly the tools you need
            • A different approach to self-improvement. Lacks the Rah-Rah-Rah!
            • Good Read
            • Farsightedness - well worth the price of the book.
            The Other 90%: How to Unlock Your Vast Untapped Potential for Leadership and Life
            Robert K. Cooper
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            Amazon.com

            Some 10-to-90-percent splits are good, like giving one-tenth of what you make to those less fortunate or putting 10 percent of it into a smart saving plan. Others are bad, like being a miserly 10-percent tipper or using only that tiny portion of the capabilities of your powerful computer software. Worst of all is the fact that most of us use only 10 percent of our intelligence and creativity potential, leaving vast quantities of what we're capable lying dormant, unused and untapped. It's this ratio that Robert Cooper hopes to help reverse with The Other 90%, his inspirational guide to waking the sleeping giant within each of us.

            Cooper groups his observations and advice under four keystones: trust, energy, farsightedness, and nerve. In a diagram at the beginning, he illustrates each of these keystones with insights quoted from an unusual mixture of literary and political figures, setting the tone for a book that mixes tales of the famous with those of the unknown and moments of ordinary life with the eureka moments of exceptional triumphs. He promotes trust in its broadest sense, such as incorporating and blending all three streams of intelligence (brain, heart, and gut) into decision making, and trusting oneself enough to escape the trap of comparison. He shares simple suggestions for cultivating calm energy, so as to be quick and effective without rushing, and encourages readers to learn the difference between the trivia in life that counts (and drains us of precious energy) and that which doesn't. Being farsighted, for Cooper, is essentially learning to align more of your actions--and ultimately your life--with your biggest dreams. And nerve is the art of developing a thick skin and making adversity your ally on the road to achieving those hopes and ambitions.

            The Other 90% suffers a bit from the problem of many inspirational books, being so densely packed with anecdotes that the good advice is sometimes lost in a blur of well-intentioned examples. Indeed, some of Cooper's most profound comments leap out of the least elaborate stories, such as the memory of his grandfather gazing at Sirius, one of the brightest but most distant stars, and explaining that he did this "because it draws my gaze the farthest away from where I'm standing right now." But Cooper's enthusiasm is timely; the accepted notion that we only use one-tenth of our capabilities was revised a few years ago by studies indicating we only use one ten-thousandth. So there's room for all kinds of improvement. --S. Ketchum

            Book Description

            For centuries, it has been assumed that there are vast limits to human capacity. Now, although a host of scientific discoveries prove this wrong, a mindset of limits persists, blocking us from our greatest possibilities and leaving us feeling bombarded by stress, change, and uncertainty. No matter how hard we work, no matter how much we give, we're still not getting what we hoped for. There is another way.

            Dr. Robert Cooper, a neuroscience pioneer and leadership advisor, urges us to take a radically different view of human capacity. We are mostly unused potential, he says, employing less than 10 percent of our brilliance or hidden talents. In easy-to-follow steps, he explains how to develop and apply the art and science of your hidden capacity.

            The art is the motivation and inspiration coming from the wonderful stories that are the heart of The Other 90%. Dr. Cooper draws on his wide-ranging insights and experiences to show how it's possible to make a difference in yourself and others.

            However, inspiration without a way to turn vision into reality is an empty vessel. Combining art with science, Dr. Cooper provides extraordinary help in the form of specific, little-known practical ways to use the latest research in neuroscience, performance psychology, and work physiology for excelling in a pressure-filled world. He shows you how to:

            * Increase energy at work -- and have more energy for personal and family life.

            * Activate the brain's "alertness switches" to defeat pressure and stress.

            * Use not only the brain in your head but the ones in your heart and gut.

            * Motivate exceptional ingenuity and performance in yourself and others.

            The most exciting breakthroughs will not come from advances in technology but from a deeper realization of what it means to be most human and alive. Many of the choices that can dramatically change our lives are simple and practical -- yet few people know what these choices are or how to apply them in work and life. The Other 90% is your guide to new territory and new challenges.

            Customer Reviews:

            4 out of 5 stars Generous Wisdom.......2007-05-05

            I found this book very captivating. The author of this book did a very good job capturing the very essence of his youth. This book did not lack at all with ideas. It leads you to do a lot of soul searching. It also leads you to question your self and to examine more closely certain aspects in your life and in the life of others.

            However, I must say that the enormous amount of interaction between the author and his grandfather passing down wisdom each and every moment will age you a bit as you read on.

            The author does not lack at all in the diciplines of philosophy. The book also leads you to interact with it. You will be influenced to take some serious notes that will lead you to other studies and soul searching explorations. You will definitely find some new and interesting things to test and take in internally in your life and in the life of others.

            4 out of 5 stars Inspirational, motivational, but not exactly the tools you need.......2006-12-30

            I think of this book as gas for my inner combustion engine. It's fuel, it turns the ignition key, but until something else starts to push the pedal to the floor, the car only idles forward. And, as we all know, you don't idle forward very fast.

            My recommendation would be to read this book to inspire you to make a change. It will make you think hard about your life to this point, and what you're going to think about your life when you're coming to the end of it. Then use other, more practical books to achieve the kind of change you want. I recommend "How to Be, Do, or Have Anything" by Boldt (which is much more practical than the title lets on), "Overachievement" by Eliot and "Getting Things Done" by Allen.

            This book is also good for dipping into from time to time for a little burst of energy. If you want to wring every last drop of life out of your time on earth, I recommend you put this one on your bookshelf.

            4 out of 5 stars A different approach to self-improvement. Lacks the Rah-Rah-Rah!.......2006-01-31

            I find the title a little misleading. If we, as humans use only 10% (I think a lot less), then this book definitely doesn't hold the other 90% between its covers (maybe another 1-2%). I'm not trying to dis this book. I found it very entertaining and if I apply some of its wisdom, will improve my life immensely. The author uses examples from his youth in which he spent with his grandfathers, both full of wisdom. He is a man, proud of his heritage. I found this book heartwarming and sincere. As I've said, a lot can be learned from its pages. It's not the kind of book that makes it hard to sleep after reading--thinking, 'maybe I really can become a super-hero, rich, famous, bullet-proof and able to leap buildings'. Perhaps that's not what a motivational book should do, though I do like to feel a little stirring. Over all, I found this to be a wonderful book, and did feel a little wiser upon finishing it. The author is obviously a very intelligent individual with many accomplishments. I recommend it.

            3 out of 5 stars Good Read.......2005-11-19

            I find this book a good read, although it has some points which are not easy to comprehend personally.

            I would still recommend to others.

            5 out of 5 stars Farsightedness - well worth the price of the book........2005-05-03

            Several years ago I attended one of Robert Cooper's seminars and for the next six, very emotional, hours Dr. Cooper inspired me to wake the sleeping giant within. The Other 90%, was immediately placed on my must read list. Cooper's title and premise is based on his grandfather's adage that asserts "we use only about 10% of our potential in the course of a lifetime."

            Dr. Cooper shares numerous inspiring stories, and practical new tools for taking your life to the next level. Cooper's theorem in reaching the other 90% is built around Four Keystones:

            1) Trust
            2) Energy
            3) Farsightedness
            4) Nerve

            - Trust is centered on building and maintaining exceptional relationships. This keystone provides one with a support system designed to maintain high levels of thought, energy and emotional stability, all essential foundational attributes.

            - The energy keystone is pointed toward "increasing your calm effectiveness under pressure." Practical exercises and pauses ensure that our minds, hearts, and guts are working in concert.

            - Farsightedness is the keystone I believe to be of utmost importance to business leaders everywhere. Einstein asserted, "Imagination is more important than knowledge." Well, if this is true, then farsightedness, or having the ability (imagination) to dream of great things, is what we should all strive for.

            - The fourth and final keystone: nerve. Let's face it, this emotional attribute holds many great individuals at bay. Nerve or the ability to muster courage at a moment's notice is one of the great barriers to greatness. Do you have dreams, ambitions, desires that you've failed to act upon? Why?

            In closing, once you've finished reading THE OTHER 90%, you will have a better idea of the tools needed to tap into your untapped potential. If nothing else, read the section on Farsightedness; it is well worth the price of the book.

            -------

            Michael Davis - Editor, Byvation

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                    Enron Proof Your 401(k): Steps to Keep Your Money Safe
                    Average customer rating: 5 out of 5 stars
                    • Practical & Helpful
                    • GREAT Starting Place
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                    Customer Reviews:

                    5 out of 5 stars Practical & Helpful.......2003-01-22

                    I wish I had read this book years ago when I started with a company that offered a savings plan. I think this book could have helped me save and make more money in my 401(k).

                    This book is very useful and practical. It defines the terms for all the parts of and the key documents relating to your 401(k) or savings plan. It also lists lots of useful resources and websites.

                    I also like that this book is easy to read and has lots of interesting stories from the authors experience helping people. This is not a dry, dull book. The author has a fun, easy style that helped keep my interest.

                    5 out of 5 stars GREAT Starting Place.......2003-01-14

                    Crista Boyles does a great job in helping people to become more aware of their financial options and decisions they can and need to make in her book, "Enron Proof Your 401(k): Steps to Keep Your Money Safe". I have felt for a while now that I needed to educate myself in order to enable me to make healthy decisions
                    regarding my finances in general and particularly in regards to my 401k. Reading this book is a GREAT starting place to becomming informed about the options an individual has in regards to making important financial decisions.

                    After hearing great reviews regarding Ms Boyles work and regrettfully missing out on an opportunity to attend one of her workshops, I aquired her book. I was so excited that I read several chapters in it that night and continued reading every spare moment I had. It is very easy reading with very useful information. With the information learned from this book I will be able to make better decisions that in the long run that will benefit my future.

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                    Average customer rating: 4 out of 5 stars
                    • Basics for Success - Easier Nowadays - Fundamentally Sound
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                    4 out of 5 stars Basics for Success - Easier Nowadays - Fundamentally Sound.......2006-03-06

                    This is a dated book nowadays but worth a scan-through because it is with these ideas that both of these men became successful. The main difference nowadays is that their ideas are easier to implement. Fundamentally sound book.

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                          USA International Business Publications
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                            GeneralGeneral | International | Business & Investing | Subjects | Books
                            GeneralGeneral | Industries & Professions | Business & Investing | Subjects | Books
                            Romania & MoldovaRomania & Moldova | Europe | Travel | Subjects | Books
                            DirectoriesDirectories | Catalogs & Directories | Reference | Subjects | Books
                            ASIN: 0739705458

                            Book Description

                            This law handbook contains information on basic business legislation, laws and regulatoins affecting export-import, business, foreign investments, property rights, taxation and banking.
                            Moldova: Business Guide to the Manufacturing Industry
                            Average customer rating: Not rated
                              Moldova: Business Guide to the Manufacturing Industry

                              Manufacturer: Business Information Agency
                              ProductGroup: Book
                              Binding: Paperback
                              ASIN: 1418720038

                              Product Description

                              700 COMPANIES IN MOLDOVA! Information provided includes key fields of information such as company name, location, contact information, contact name, industry descriptions, SIC codes, line of business, manufacturing indicator, number of employees, year established, legal status, subsidiary indicator.

                              Zambia Foreign Policy and Government Guide
                              Average customer rating: Not rated
                                Zambia Foreign Policy and Government Guide
                                Global Investment & Business Inc , and USA International Business Publications
                                Manufacturer: International Business Publications, USA
                                ProductGroup: Book
                                Binding: Paperback

                                GeneralGeneral | Politics | Nonfiction | Subjects | Books
                                ASIN: 0739738909

                                Book Description

                                Basic information on foreign and domestic policy, national security, political system, parties and elections, government and administrative structure. Participation in international organizations, treaties and regional unions. International and foreign policy and more.
                                Zambia Investment & Business Guide
                                Average customer rating: Not rated
                                  Zambia Investment & Business Guide
                                  Emerging Markets Investment Center
                                  Manufacturer: International Business Publications, USA
                                  ProductGroup: Book
                                  Binding: Paperback
                                  ASIN: 0739703889

                                  Book Description

                                  This investment guide contains basic information on economy, business, export-import and investment climate, opportunities, regulations. Provides strategic information on economy, industrial development, banking, and government. Includes information on the most important business contacts and business travel. Updated annually.
                                  Zambia Investment & Business Guide (World Investment and Business Library)
                                  Average customer rating: Not rated
                                    Zambia Investment & Business Guide (World Investment and Business Library)
                                    International Business Publications USA
                                    Manufacturer: Intl Business Pubns USA
                                    ProductGroup: Book
                                    Binding: Paperback

                                    Exports & ImportsExports & Imports | Economics | Business & Investing | Subjects | Books
                                    GeneralGeneral | Business & Investing | Subjects | Books
                                    GeneralGeneral | International | Business & Investing | Subjects | Books
                                    GeneralGeneral | Investing | Business & Investing | Subjects | Books
                                    ASIN: 073977283X

                                    Book Description

                                    This investment guide contains basic information on economy, business, export-import and investment climate, opportunities and regulations. Provides strategic information on economy, industrial development, banking, and government. Includes information on the most important business contacts and business travel. Updated annually.
                                    Zambia Investment and Business Guide
                                    Average customer rating: Not rated
                                      Zambia Investment and Business Guide
                                      USA International Business Publications
                                      Manufacturer: Intl Business Pubns USA
                                      ProductGroup: Book
                                      Binding: Paperback

                                      Exports & ImportsExports & Imports | Economics | Business & Investing | Subjects | Books
                                      GeneralGeneral | Business & Investing | Subjects | Books
                                      GeneralGeneral | International | Business & Investing | Subjects | Books
                                      GeneralGeneral | Investing | Business & Investing | Subjects | Books
                                      ASIN: 0739742094
                                      Zambia Investment and Business Guide (World Investment and Business Guide Library)
                                      Average customer rating: Not rated
                                        Zambia Investment and Business Guide (World Investment and Business Guide Library)
                                        Igor Oleynik
                                        Manufacturer: International Business Publications USA
                                        ProductGroup: Book
                                        Binding: Digital

                                        GeneralGeneral | Business & Investing | Subjects | Books
                                        Online BooksOnline Books | Books & Reading | Literature & Fiction | Subjects | Books
                                        GeneralGeneral | Business | PDF (printable) | Formats | e-Docs | Formats | Books
                                        International Business PublicationsInternational Business Publications | By Publisher | e-Docs | Formats | Books
                                        ASIN: B00005R4UA
                                        Release Date: 2006-01-01

                                        Book Description

                                        Ultimate guide for conducting investment, export-import activity in the country. Strategic and business info, contacts, regulations and more. Updated annually

                                        Download Description

                                        BUS026000
                                        Zambia Mineral & Mining Sector Investment And Business Guide (World Business, Investment and Government Library)
                                        Average customer rating: Not rated
                                          Zambia Mineral & Mining Sector Investment And Business Guide (World Business, Investment and Government Library)
                                          USA International Business Publications
                                          Manufacturer: Intl Business Pubns USA
                                          ProductGroup: Book
                                          Binding: Paperback

                                          Exports & ImportsExports & Imports | Economics | Business & Investing | Subjects | Books
                                          GeneralGeneral | Business & Investing | Subjects | Books
                                          GeneralGeneral | International | Business & Investing | Subjects | Books
                                          GeneralGeneral | Industries & Professions | Business & Investing | Subjects | Books
                                          ASIN: 0739791095

                                          Books:

                                          1. Motivation in the Workplace: Inspiring Your Employees (How to Book)
                                          2. Negotiating the Law of the Sea (Harvard Economic Studies)
                                          3. Nixon's Economy: Booms, Busts, Dollars, and Votes
                                          4. Organizational Citizenship Behavior: Its Nature, Antecedents, and Consequences (Foundations for Organizational Science)
                                          5. Paving Wall Street : Experimental Economics and the Quest for the Perfect Market
                                          6. Planning World Cities: Globalization, Urban Governance and Policy Dilemmas (Planning, Environment, Cities)
                                          7. Poverty, Inequality and Development: Essays in Honor of Erik Thorbecke (Economic Studies in Inequality, Social Exclusion and Well-Being)
                                          8. Preference, Production and Capital: Selected Papers of Hirofumi Uzawa
                                          9. Promoting and Sustaining Economic Reform in Zambia (Harvard Studies in International Development)
                                          10. Prosperity and Depression: A Theoretical Analysis of Cyclical Movements, 4th ed. (Harvard Economic Studies)

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