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bounded utility

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  • Bounded rationality — Some models of human behavior in the social sciences assume that humans can be reasonably approximated or described as rational entities (see for example rational choice theory). Many economics models assume that people are hyperrational, and… …   Wikipedia

  • Utility — This article is about the economic concept. For other uses, see Utility (disambiguation). Part of a series on Utilitarianism …   Wikipedia

  • Utility maximization problem — In microeconomics, the utility maximization problem is the problem consumers face: how should I spend my money in order to maximize my utility? Basic setupSuppose their consumption set, or the enumeration of all possible consumption bundles that… …   Wikipedia

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  • List of neighbourhoods in Edmonton — Map of Edmonton and adjoining St. Albert and Sherwood Park This is a list of residential neighbourhoods in Edmonton, Alberta, Canada. Unlike the category list, neighbourhoods are grouped geographically so that, to a greater or lesser degree, a… …   Wikipedia

  • Herbert Simon — Infobox Scientist name = Herbert Simon image size = 180px birth date = birth date|1916|6|15|mf=y birth place = Milwaukee, Wisconsin, USA death date = death date and age|2001|2|9|1916|6|15|mf=y death place = Pittsburgh, Pennsylvania, USA… …   Wikipedia

  • Info-gap decision theory — is a non probabilistic decision theory that seeks to optimize robustness to failure – or opportuneness for windfall – under severe uncertainty,[1][2] in particular applying sensitivity analysis of the stability radius type[3] to perturbations in… …   Wikipedia

  • Bertrand Munier (économiste) — Pour les articles homonymes, voir Bertrand Munier (homonymie). Bertrand Munier, né le 2 mai 1943 à Rabat au Maroc, est un universitaire et économiste français. Professeur en sciences économiques et en sciences de gestion, ses principaux …   Wikipédia en Français

  • Rational choice theory — This article is about a theory of economics. For Rational Choice Theory as applied to criminology, see Rational choice theory (criminology). Economics …   Wikipedia

  • St. Petersburg paradox — In economics, the St. Petersburg paradox is a paradox related to probability theory and decision theory. It is based on a particular (theoretical) lottery game (sometimes called St. Petersburg Lottery ) that leads to a random variable with… …   Wikipedia

  • Market failure — is a concept within economic theory wherein the allocation of goods and services by a free market is not efficient. That is, there exists another conceivable outcome where a market participant may be made better off without making someone else… …   Wikipedia

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