Bounded rationality is rare

被引：4

作者：

Giarlotta, Alfio ^{[1
]}

Petralia, Angelo ^{[2
,3
]}

Watson, Stephen ^{[4
]}

机构：

[1] Univ Catania, Dept Econ & Business, Catania, Italy

[2] Univ Turin, Turin, Italy

[3] Coll Carlo Alberto, Turin, Italy

[4] York Univ, Dept Math & Stat, Toronto, ON, Canada

来源：

JOURNAL OF ECONOMIC THEORY | 2022年 / 204卷

关键词：

Bounded rationality; Hereditary property; Choice isomorphism; Rarity; Numerical estimates; CHOICE;

D O I：

10.1016/j.jet.2022.105509

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Most bounded rationality properties in the literature are inherited by subchoices, but are not satisfied by at least one subchoice of most choice functions. Therefore the fraction of choice functions that can be explained by these models goes to zero as the number of items tends to infinity. Numerical estimates confirm the rarity of bounded rationality even for small sets of alternatives.(c) 2022 The Authors. Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).

引用

页数：12

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