A boundedly rational decision algorithm

Article Abstract:

A model using algorithms which simplify decision trees offers a number of benefits, such as being empirically testable. This model uses a bounded rationality approcah.

Research, Models, Rational expectations (Economics)

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Costly information acquisition: experimental analysis of a boundedly rational model

Article Abstract:

A study examines the impact of information acquisition on the decision making of individuals. Cognition model is used in the study.

Cognition, Information management, Information accessibility

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Zipf's law and the growth of cities

Article Abstract:

A study was conducted to analyze the argument that satisfying Zipf's law should be a prerequisite for considering a framework of local growth. Economic and random processes-based explanations of the law were examined. A general model of city growth was developed to show two very different routes to Zipf's law. The first route supported cities that were approximately CRS in the upper trail while the other had cities experiencing externalities that do not die off in the upper trail.

Economic aspects, Economic development, Cities and towns

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