If bounded strategies are demonstrably more accurate than global optimization under real-world conditions, then global rationality is deficient as a normative standard, not merely as a descriptive one.
?Rate how convincing each reason is below to see the overall strength.
No one has weighed in yet. Be the first to share reasons for or against this statement.
Sign in or register to share your perspective on this statement.
descriptive(describing the other type of vocabulary being compared)
Language or claims about how things *actually are* in reality—just the facts without judgments about whether they're good or bad.
global rationality(Contrasted with bounded rationality; referenced via Aumann's arguments)
A normative standard for rational judgment and decision-making, discussed in section 2, treated as reasonable in principle but descriptively inadequate for modeling actual human behavior