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Cognitively bounded rational analyses and the crucial role of theories of subjective utility

Published online by Cambridge University Press:  11 March 2020

Richard L. Lewis Open the ORCID record for Richard L. Lewis [Opens in a new window]  and
Andrew Howes Open the ORCID record for Andrew Howes [Opens in a new window]
Richard L. Lewis
Affiliation:
Department of Psychology and Weinberg Institute for Cognitive Science, University of Michigan Ann Arbor, MI48109rickl@umich.eduhttp://www-personal.umich.edu/~rickl/
Andrew Howes
Affiliation:
School of Computer Science, University of Birmingham, BirminghamB15 2TT, United Kingdom. a.howes@bham.ac.ukhttp://www.cs.bham.ac.uk/~howesa/
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Abstract

We agree that combining rational analysis with cognitive bounds, what we previously introduced as Cognitively Bounded Rational Analysis, is a promising and under-used methodology in psychology. We further situate the framework in the literature, and highlight the important issue of a theory of subjective utility, which is not addressed sufficiently clearly in the framework or related previous work.

Type
Open Peer Commentary
Information
Behavioral and Brain Sciences , Volume 43 , 2020 , e14
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Copyright
Copyright © Cambridge University Press 2020

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References

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