Unbounded Rationality

Melvin F. Shakun ()
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Melvin F. Shakun: New York University

Group Decision and Negotiation, 2001, vol. 10, issue 2, No 2, 97-118

Abstract: Abstract The paper discusses bounded and unbounded rationality in purposeful complex adaptive systems (PCAS) modeled by the Evolutionary Systems Design (ESD) framework. Due to Herbert Simon, bounded rationality is the rationality of cognition. Unbounded rationality is the generalized rationality of connectedness represented mathematically, of spirituality, and of right decision/negotiation. Operational procedures for defining/solving and validating a problem in group decision and negotiation under unbounded rationality are discussed. With human PCAS as a focus, the paper more generally considers rationality in multiagent systems with natural and/or artificial agents.

Keywords: bounded and unbounded rationality; intelligence; right decision/negotiation; connectedness; consciousness; spirituality; purposeful complex adaptive systems (PCAS); Evolutionary Systems Design (ESD); multiagent systems; natural (human) and artificial agents (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (4)

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DOI: 10.1023/A:1008708222157

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