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Bounded Thinking: Intellectual virtues for limited agents

Adam Morton

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199658534
eISBN:
9780191746192
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199658534.001.0001
Subject:
Philosophy, Metaphysics/Epistemology, Philosophy of Mind

The book describes virtues of limitation management, intellectual virtues of adapting to the fact that we cannot solve many problems that we can easily describe. How to be profitably stupid. It ... More


Bounded Rationality and Retrospection

David M. Kreps

in Game Theory and Economic Modelling

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283812
eISBN:
9780191596568
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283814.003.0006
Subject:
Economics and Finance, Microeconomics

Argues that many of the weaknesses of game theory arise from weaknesses in how economists model individual (dynamic) behaviour: with hyper‐rational and forward‐looking, farsighted individuals. ... More


Notes on Computational Complexity

Kumaraswamy Velupillai

in Computable Economics: The Arne Ryde Memorial Lectures

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198295273
eISBN:
9780191596988
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198295278.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

A characterization of dynamic choice attributable to Marshall is used as the vehicle through which to discuss the computational complexity of sequentially rational behaviour. Khachiyan's famous ... More


The Difficulty of Difficulty

Adam Morton

in Bounded Thinking: Intellectual virtues for limited agents

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199658534
eISBN:
9780191746192
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199658534.003.0004
Subject:
Philosophy, Metaphysics/Epistemology, Philosophy of Mind

To be prudent we have to know how hard the problems we expect to face are, and this is not at all simple. In order to plan sequences of actions we have to know in advance which problems we can solve. ... More


Dynamic choice

David M. Kreps

in A Course in Microeconomic Theory

Published in print:
2020
Published Online:
May 2021
ISBN:
9780691202754
eISBN:
9780691215747
Item type:
chapter
Publisher:
Discontinued
DOI:
10.23943/princeton/9780691202754.003.0004
Subject:
Economics and Finance, Microeconomics

This chapter investigates the issue of dynamic choice. Many important choices made in economic contexts are made through time. The consumer takes some action today, knowing that subsequent choices ... More


Helping One Another to Think Well

Adam Morton

in Bounded Thinking: Intellectual virtues for limited agents

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199658534
eISBN:
9780191746192
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199658534.003.0001
Subject:
Philosophy, Metaphysics/Epistemology, Philosophy of Mind

What is it to think better or worse? This chapter's emphasis is on the results of thinking rather than its content. This leads to a discussion of the approximation fallacy, the fact that an ... More


Team Reasoning, Framing, and Self-Control: An Aristotelian Account

Natalie Gold

in Addiction and Self-Control: Perspectives from Philosophy, Psychology, and Neuroscience

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199862580
eISBN:
9780199369638
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199862580.003.0004
Subject:
Philosophy, Philosophy of Science, Moral Philosophy

Decision theory explains weakness of will as the result of a conflict of incentives between different transient agents. In this framework, self-control can only be achieved by the I-now altering the ... More


A Course in Microeconomic Theory

David M. Kreps

Published in print:
2020
Published Online:
May 2021
ISBN:
9780691202754
eISBN:
9780691215747
Item type:
book
Publisher:
Discontinued
DOI:
10.23943/princeton/9780691202754.001.0001
Subject:
Economics and Finance, Microeconomics

This book is a text in microeconomics that is both challenging and “user-friendly.” The work is designed for the first-year graduate microeconomic theory course and is accessible to advanced ... More


Framing as a Mechanism for Self-Control: Rationality and Quasi-Cyclical Preferences

José Luis Bermúdez

in Surrounding Self-Control

Published in print:
2020
Published Online:
June 2020
ISBN:
9780197500941
eISBN:
9780197500972
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780197500941.003.0019
Subject:
Philosophy, Moral Philosophy

This chapter approaches self-control via a problem arising in decision theoretic discussions of sequential choice within a broadly Humean conception of action and motivation. How can agents stick to ... More


How Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior

Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell

in How Persistent Low Returns Will Shape Saving and Retirement

Published in print:
2018
Published Online:
October 2018
ISBN:
9780198827443
eISBN:
9780191866296
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198827443.003.0008
Subject:
Business and Management, Pensions and Pension Management

This chapter explores how an environment of persistent low returns influences saving, investing, and retirement behaviors, compared to what in the past had been conceived of as ‘normal’ financial ... More


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