Related papers: Bounded Rationality with Subjective Evaluations in…
Subjective expected utility theory assumes that decision-makers possess unlimited computational resources to reason about their choices; however, virtually all decisions in everyday life are made under resource constraints - i.e.…
Bounded rationality investigates utility-optimizing decision-makers with limited information-processing power. In particular, information theoretic bounded rationality models formalize resource constraints abstractly in terms of relative…
We develop the theory and practice of an approach to modelling and probabilistic inference in causal networks that is suitable when application-specific or analysis-specific constraints should inform such inference or when little or no data…
Bounded rationality, that is, decision-making and planning under resource limitations, is widely regarded as an important open problem in artificial intelligence, reinforcement learning, computational neuroscience and economics. This paper…
A perfectly rational decision-maker chooses the best action with the highest utility gain from a set of possible actions. The optimality principles that describe such decision processes do not take into account the computational costs of…
When inferring the goals that others are trying to achieve, people intuitively understand that others might make mistakes along the way. This is crucial for activities such as teaching, offering assistance, and deciding between blame or…
The dominant theories of rational choice assume logical omniscience. That is, they assume that when facing a decision problem, an agent can perform all relevant computations and determine the truth value of all relevant logical/mathematical…
The combination of Monte Carlo tree search and neural networks has revolutionized online planning. As neural network approximations are often imperfect, we ask whether uncertainty estimates about the network outputs could be used to improve…
Research in reinforcement learning has produced algorithms for optimal decision making under uncertainty that fall within two main types. The first employs a Bayesian framework, where optimality improves with increased computational time.…
In this paper the theory of semi-bounded rationality is proposed as an extension of the theory of bounded rationality. In particular, it is proposed that a decision making process involves two components and these are the correlation…
In experimental applications of bounded-reasoning models, behavior is often summarized by distributions of "levels". We argue that such summaries conflate two conceptually distinct dimensions: a player's type, capturing beliefs about what…
Rationality is often related to optimal decision making. Humans are known to be bounded rational agents. However, recent advances in computing, and other scientific and technical fields along with large amount of data have led to a feeling…
Based on decision trees, many fields have arguably made tremendous progress in recent years. In simple words, decision trees use the strategy of "divide-and-conquer" to divide the complex problem on the dependency between input features and…
Decision trees are widely used for interpretable machine learning due to their clearly structured reasoning process. However, this structure belies a challenge we refer to as predictive equivalence: a given tree's decision boundary can be…
Classic mechanism/information design imposes the assumption that agents are fully rational, meaning each of them always selects the action that maximizes her expected utility. Yet many empirical evidence suggests that human decisions may…
In this paper the theory of flexibly-bounded rationality which is an extension to the theory of bounded rationality is revisited. Rational decision making involves using information which is almost always imperfect and incomplete together…
Modeled along the truncated approach in Panigrahi (2016), selection-adjusted inference in a Bayesian regime is based on a selective posterior. Such a posterior is determined together by a generative model imposed on data and the selection…
Defining a causal estimand for a longitudinal outcome truncated by death is challenging, because the outcome may be undefined at the end of follow-up. Although a range of estimands and several estimators have been proposed, guidance on the…
The automatic generation of decision trees based on off-line reasoning on models of a domain is a reasonable compromise between the advantages of using a model-based approach in technical domains and the constraints imposed by embedded…
This paper asks whether a bounded neural architecture can exhibit a meaningful division of labor between intuition and deliberation on a classic 64-item syllogistic reasoning benchmark. More broadly, the benchmark is relevant to ongoing…