Unbounded rationality

Authors
Citation
Mf. Shakun, Unbounded rationality, GR DECIS N, 10(2), 2001, pp. 97-118
Citations number
53
Categorie Soggetti
Management
Journal title
GROUP DECISION AND NEGOTIATION
ISSN journal
09262644 → ACNP
Volume
10
Issue
2
Year of publication
2001
Pages
97 - 118
Database
ISI
SICI code
0926-2644(200103)10:2<97:UR>2.0.ZU;2-T
Abstract
The paper discusses bounded and unbounded rationality in purposeful complex adaptive systems (PCAS) modeled by the Evolutionary Systems Design (ESD) f ramework. Due to Herbert Simon, bounded rationality is the rationality of c ognition. Unbounded rationality is the generalized rationality of connected ness represented mathematically, of spirituality, and of right decision/neg otiation. Operational procedures for defining/solving and validating a prob lem in group decision and negotiation under unbounded rationality are discu ssed. With human PCAS as a focus, the paper more generally considers ration ality in multiagent systems with natural and/or artificial agents.