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There has been a recent surge of interest among economists in developing models of doxastic states that can account for some aspects of human cognitive limitations that are ignored by standard formal models, such as awareness. Epistemologists purport to have a principled reason for ignoring the...
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Game theory is a branch of economics that uses powerful mathematical models to predict what agents ought to do when … interacting with other agents strategically. Bounded rationality is a sub-field of game theory that sets out to explain why, in … some interesting cases, people don't act according their utility maximizing strategies, as described by game theory …
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