Boundedly rational versus optimization-based models of strategic thinking and learning in games
- Author(s): Crawford, VP
- et al.
Published Web Locationhttps://doi.org/10.32609/0042-8736-2014-5-27-44
The paper is a comment on the article by R. Harstad and R. Selten and considers the tradeoff between bounded rationality and optimization models in the game-theoretic context. The author shows that in most of the models elements of opimization are still retained and that it is thus more productive to further improve the optimization-based modeling rather than to abandon them altogether in favour of bounded rationality.