Adaptive Behavior
Two counter‐intuitive points are made in this chapter. The first is the claim, demonstrated formally, that orthodox definitions of rationality, when viewed in a dynamic context, turn out to be approximations to adaptively rational behaviour. The second, related point – illustrated with a formal example – is that bounded rationality is not an approximation of any sort to the full rationality of standard theory; rather, it is the other way about.
Keywords: adaptive behaviour, bounded rationality, computation universality, decision rules, neural nets
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .