Decision Theory without Logical Omniscience: Toward an Axiomatic Framework for Bounded Rationality

DOI10.1111/1467-937X.00090zbMATH Open0962.91016OpenAlexW2034725308MaRDI QIDQ4262876FDOQ4262876

Barton L. Lipman

Publication date: 4 June 2000

Published in: Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1111/1467-937x.00090

zbMATH Keywords

bounded rationalitylogical omniscience

Mathematics Subject Classification ID

Decision theory (91B06) Fundamental topics (basic mathematics, methodology; applicable to economics in general) (91B02)

Cited In (18)

• Dealing with logical omniscience: expressiveness and pragmatics
• The logic of belief and belief change: a decision theoretic approach
• Subjective contingencies and limited Bayesian updating
• Subjective expected utility with imperfect perception
• Expected utility without parsimony
• Unawareness with ``possible possible worlds
• Understanding the nonadditive probability decision model
• Bounded versus unbounded rationality: The tyranny of the weak
• Impossible worlds and partial belief
• Constructive decision theory
• Framing effects as violations of extensionality
• On the rejectability of the subjective expected utility theory
• Language-based decisions
• Fragmentation and logical omniscience
• Formalizing common belief with no underlying assumption on individual beliefs
• QUANTIFIED LOGIC OF AWARENESS AND IMPOSSIBLE POSSIBLE WORLDS
• Dynamic consistency for non-expected utility preferences
• Cognitive forward induction and coordination without common knowledge: an experimental study

   Recommendations

• Decision theoretic foundations for axioms of rational preference 👍 👎
• The Mind Under the Axioms 👍 👎
• Axiomatizing bounded rationality: the priority heuristic 👍 👎
• Title not available (Why is that?) 👍 👎
• Foundations of boundedly rational choice and satisficing decisions 👍 👎
• Rationalizing epistemic bounded rationality 👍 👎
• Reasoning about rational, but not logically omniscient, agents 👍 👎
• A paraconsistent theory of decision under uncertainty 👍 👎
• Bounded depths of rationality and implementation with complete information 👍 👎
• Title not available (Why is that?) 👍 👎

This page was built for publication: Decision Theory without Logical Omniscience: Toward an Axiomatic Framework for Bounded Rationality

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q4262876)