Bounded Rationality: Theory and Experiments (Dec 11-12, Tel Aviv)

[Ishan Mistry]

Hi All,

The Coller School of Management at Tel Aviv University is excited to host a two-day workshop, “Bounded Rationality: Theory and Experiments”, on December 11-12, 2022, which will be held in-person at the Recanati Building. This workshop brings together economic theorists and experimentalists who study bounded rationality. The workshop includes talks, a poster session, and a panel discussion on future directions in bounded rationality. The list of confirmed speakers appears here.

If you are interested in attending, please register here. If you (or your students) are interested in presenting a poster, please register and submit a title and an abstract of up to 200 words.

Participation is free, but space is limited. Please register by September 22. We will confirm your participation by October 1.

Hope to see you with us at Tel Aviv!
Yair Antler and Ayala Arad

[somdeb...@gmail.com]

Thanks for the post Ishan.

Apologies for asking what may be a very "stupid question", given that I have "zero" familiarity with the topic.

Why must "bounded rationality" invariably refer to non-optimizing behavior? To my mind, as soon as one has state-dependent rankings of alternatives, instead of state-dependent utility functions, one is confronted with problems of "bounded rationality" arising out of insufficient information, since expected utility maximization is not possible. However, that does not prevent maximization of "weighted Borda scores" where the probabilities of the states of nature are used as weights. Is my perception incorrect? To be precise, why can't the approach adopted in the following paper be considered a possibility in the presence of "bounded rationality"?

Extended Choice Correspondences & An Axiomatic Characterization of The Probabilistic Borda Rule

Best.

Somdeb.