A three-pronged simonesque approach to modeling and simulation in deviant “bi-pay” auctions, and beyond

Joe Johnson (), Naveen Govindarajulu () and Selmer Bringsjord ()

Mind & Society: Cognitive Studies in Economics and Social Sciences, 2014, vol. 13, issue 1, 59-82

Abstract: In order to employ and exhibit our Simon-inspired approach to computational economics, and specifically defend our version of the view that even logically untrained humans are rational, albeit no more than “boundedly” so, we provide two models, both rooted in computational logic, of how it is that logically untrained humans perform in a seemingly irrational fashion in a particular “deviant” auction (the bi-pay auction). Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Cognitive event calculus; Agent-based economic modeling; Computational logic; High-fidelity (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s11299-014-0141-0

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