Rational Choice and Artificial Intelligence

Tshilidzi Marwala

Papers from arXiv.org

Abstract: The theory of rational choice assumes that when people make decisions they do so in order to maximize their utility. In order to achieve this goal they ought to use all the information available and consider all the choices available to choose an optimal choice. This paper investigates what happens when decisions are made by artificially intelligent machines in the market rather than human beings. Firstly, the expectations of the future are more consistent if they are made by an artificially intelligent machine and the decisions are more rational and thus marketplace becomes more rational.

Date: 2017-03
New Economics Papers: this item is included in nep-upt
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