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Unbounded Rationality

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  • Melvin F. Shakun

    (New York University)

Abstract

The paper discusses bounded and unbounded rationality in purposeful complex adaptive systems (PCAS) modeled by the Evolutionary Systems Design (ESD) framework. Due to Herbert Simon, bounded rationality is the rationality of cognition. Unbounded rationality is the generalized rationality of connectedness represented mathematically, of spirituality, and of right decision/negotiation. Operational procedures for defining/solving and validating a problem in group decision and negotiation under unbounded rationality are discussed. With human PCAS as a focus, the paper more generally considers rationality in multiagent systems with natural and/or artificial agents.

Suggested Citation

  • Melvin F. Shakun, 2001. "Unbounded Rationality," Group Decision and Negotiation, Springer, vol. 10(2), pages 97-118, March.
    • Handle: RePEc:spr:grdene:v:10:y:2001:i:2:d:10.1023_a:1008708222157
    DOI: 10.1023/A:1008708222157
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    References listed on IDEAS

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    1. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
    2. Sycara, Katia P., 1990. "Negotiation planning: An AI approach," European Journal of Operational Research, Elsevier, vol. 46(2), pages 216-234, May.
    3. Herbert A. Simon, 1996. "The Sciences of the Artificial, 3rd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691914, April.
    4. Bui, Tung X. & Jelassi, Tawfik M. & Shakun, Melvin F., 1990. "Group Decision and Negotiation Support Systems (GDNSS)," European Journal of Operational Research, Elsevier, vol. 46(2), pages 141-142, May.
    5. Katia P. Sycara, 1991. "Problem Restructuring in Negotiation," Management Science, INFORMS, vol. 37(10), pages 1248-1268, October.
    6. Melvin F. Shakun, 1991. "Airline Buyout: Evolutionary Systems Design and Problem Restructuring in Group Decision and Negotiation," Management Science, INFORMS, vol. 37(10), pages 1291-1303, October.
    7. Melvin F. Shakun, 1999. "An ESD Computer Culture for Intercultural Problem Solving and Negotiation," Group Decision and Negotiation, Springer, vol. 8(3), pages 237-249, May.
    8. Simon, Herbert A, 1978. "Rationality as Process and as Product of Thought," American Economic Review, American Economic Association, vol. 68(2), pages 1-16, May.
    9. Melvin F. Shakun, 1999. "Consciousness, Spirituality and Right Decision/Negotiation in Purposeful Complex Adaptive Systems," Group Decision and Negotiation, Springer, vol. 8(1), pages 1-15, January.
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    Cited by:

    1. Luke Houghton & Heather Stewart, 2017. "Using the ‘Engagement’ Model of Problem Solving to Assist Students in Capstone Learning," Systemic Practice and Action Research, Springer, vol. 30(5), pages 471-485, October.
    2. Melvin F. Shakun, 2013. "The Connectedness Decision Paradigm: Group Decision, Negotiation and Leadership in World Problems," Group Decision and Negotiation, Springer, vol. 22(4), pages 599-615, July.
    3. Dan Palmon & Ephraim F. Sudit, 2009. "Commercial Insurance of Financial Disclosure: Auditors’ Independence, and Investors’ Protection," Group Decision and Negotiation, Springer, vol. 18(1), pages 27-40, January.
    4. Josephine Gatti Schafer & Caleb T Gallemore, 2016. "Biases in multicriteria decision analysis: The case of environmental planning in Southern Nevada," Environment and Planning C, , vol. 34(8), pages 1652-1675, December.

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