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Bounded rationality

Bounded rationality is the idea that rationality is limited, when individuals make decisions, by the tractability of the decision problem, the cognitive limitations of the mind, the time available to make the decision. Decision-makers, in this view, act as satisficers, seeking a satisfactory solution rather than an optimal one. Herbert A. Simon proposed bounded rationality as an alternative basis for the mathematical modeling of decision-making, as used in economics, political science and related disciplines, it complements "rationality as optimization", which views decision-making as a rational process of finding an optimal choice given the information available. Simon used the analogy of a pair of scissors, where one blade represents "cognitive limitations" of actual humans and the other the "structures of the environment", illustrating how minds compensate for limited resources by exploiting known structural regularity in the environment. Many economics models assume that people are on average rational, can in large enough quantities be approximated to act according to their preferences.

The concept of bounded rationality revises this assumption to account for the fact that rational decisions are not feasible in practice because of the intractability of natural decision problems and the finite computational resources available for making them. Some models of human behavior in the social sciences assume that humans can be reasonably approximated or described as "rational" entities, as in rational choice theory or Downs Political Agency Models; the term was coined by Herbert A. Simon. In Models of Man, Simon points out that most people are only rational, are irrational in the remaining part of their actions. In another work, he states "boundedly rational agents experience limits in formulating and solving complex problems and in processing information". Simon describes a number of dimensions along which "classical" models of rationality can be made somewhat more realistic, while sticking within the vein of rigorous formalization; these include: limiting the types of utility functions recognizing the costs of gathering and processing information the possibility of having a "vector" or "multi-valued" utility functionSimon suggests that economic agents use heuristics to make decisions rather than a strict rigid rule of optimization.

They do this because of the complexity of the situation, their inability to process and compute the expected utility of every alternative action. Deliberation costs might be high and there are other concurrent economic activities requiring decisions; as decision-makers have to make decisions about how and when to decide, Ariel Rubinstein proposed to model bounded rationality by explicitly specifying decision-making procedures. This puts the study of decision procedures on the research agenda. Gerd Gigerenzer opines that decision theorists have not adhered to Simon's original ideas. Rather, they have considered how decisions may be crippled by limitations to rationality, or have modeled how people might cope with their inability to optimize. Gigerenzer proposes and shows that simple heuristics lead to better decisions than theoretically optimal procedures. Huw Dixon argues that it may not be necessary to analyze in detail the process of reasoning underlying bounded rationality. If we believe that agents will choose an action that gets them "close" to the optimum we can use the notion of epsilon-optimization, which means we choose our actions so that the payoff is within epsilon of the optimum.

If we define the optimum payoff as U ∗ the set of epsilon-optimizing options S can be defined as all those options s such that: U ≥ U ∗ − ϵ. The notion of strict rationality is a special case; the advantage of this approach is that it avoids having to specify in detail the process of reasoning, but rather assumes that whatever the process is, it is good enough to get near to the optimum. From a computational point of view, decision procedures can be encoded in heuristics. Edward Tsang argues that the effective rationality of an agent is determined by its computational intelligence. Everything else being equal, an agent that has better algorithms and heuristics could make "more rational" decisions than one that has poorer heuristics and algorithms. Tshilidzi Marwala and Evan Hurwitz in their study on bounded rationality observed that advances in technology expand the bounds that define the feasible rationality space; because of this expansion of the bounds of rationality, machine automated decision making makes markets more efficient.

Bounded rationality implies the idea that humans take reasoning shortcuts that may lead to suboptimal decision-making. Behavioral economists engage in mapping the decision shortcuts that agents use in order to help increase the effectiveness of human decision-making. One treatment of this idea comes from Richard Thaler's Nudge. Sunstein and Thaler recommend that choice architectures are modified in light of human agents' bounded rationality. A cited proposal from Sunstein and Thaler urges that healthier food be placed at sight level in order to increase the likelihood that a person will opt for that choice instead of a less healthy option; some critics of Nudge have lodged attacks that modifying choice architectures will lead to people becoming worse decision-makers. Recent research has shown that bounded rationality of individuals

Death Train

Death Train is a 1993 made-for-TV movie featuring Pierce Brosnan, Patrick Stewart, Christopher Lee, Ted Levine, Alexandra Paul. The script was based on an Alastair MacNeill novel of the same name, which in turn was based on an Alistair MacLean screenplay. With the aid of a German nuclear physicist, dissident Russian General Konstantin Benin, a military casualty of the Soviet collapse, is conspiring to restore the Soviet Union to superpower status, his plan is to place a nuclear bomb on a train controlled by mercenaries, led by Alex Tierney, bound for Iraq, forcing the Russian army to invade Iraq to recover it and once again mobilize its might - creating a new military union in the process. Malcolm Philpott, the head of the United Nations Anti-Crime Organisation, entrusts the mission of stopping the train and its deadly cargo to a multinational team led by field operative Mike Graham and information analyst Sabrina Carver who are forced to form a reluctant partnership as the international balance of power hits crisis point.

Pierce Brosnan as Michael'Mike' Graham Patrick Stewart as Malcolm Philpott Alexandra Paul as Sabrina Carver Ted Levine as Alex Tierney Christopher Lee as General Konstantin Benin John Abineri as Dr. Karl Leitzig Clarke Peters as C. W. Whitlock The film was shot on location in Slovenia and at Jadran Film Studios, Croatia as a co-production between Yorkshire International Films Ltd. and Jadran Film. The Region 2 UK DVD release of Death Train lacks English subtitles for the Russian dialogue; the scenes with Russian dialogue are meant to be hard-subbed, as was the case with TV broadcast, VHS, the Region 1 American DVD versions. Pierce Brosnan and Alexandra Paul returned for the sequel Detonator II: Night Watch. Night Watch is available on Region 1 DVD both individually and bundled as a double pack with Death Train. Death Train on IMDb


Eupterodactyloidea is an extinct group of pterodactyloid pterosaurs that existed from the earliest Early Cretaceous to the latest Late Cretaceous. Eupterodactyloids lived on all continents except Antarctica. Eupterodactyloidea was named by S. Christopher Bennett in 1994 as an infraorder of the suborder Pterodactyloidea. Bennett defined it as an apomorphy-based clade. However, in 2010, Brian Andres re-defined the group as a stem-based taxon in his dissertation, formalized the definition in 2014 as all pterosaurs more related to Pteranodon longiceps than to Pterodactylus antiquus; the more exclusive group Ornithocheiroidea was re-defined in 2003 by Alexander Kellner. He defined it as the least inclusive clade containing Anhanguera blittersdorffi, Pteranodon longiceps, Dsungaripterus weii, Quetzalcoatlus northropi. Ornithocheiroidea has been used for a much more inclusive group including only the branch of traditional "ornithocheirid" pterosaurs, though this use has since fallen out of favor by many researchers after years of competing definitions for the various pterodactyloid clades.

The compromise definitions by Andres and others have since become more adopted. Below is a cladogram showing the results of a phylogenetic analysis presented by al.. 2014, updated by Longrich and Andres, 2018. Andres and colleagues followed this definition, used a branch-based definition for Eupterodactyloidea, making them similar in content

Louis Guisto Field

Louis Guisto Field is a baseball venue in Moraga, California, USA. It is home to the Saint Mary's Gaels baseball team of the NCAA Division I West Coast Conference. Opened in 2012, the venue replaced the old Louis Guisto Field as the home of Saint Mary's baseball. Like the old facility, it is named for coach Louis Guisto; the field opened on February 17, 2012, when Saint Mary's defeated Southern Utah 2–1 in front of 1,100 fans. Former Major League pitcher Tom Candiotti threw out the honorary first pitch. Following the 2012 season, construction on the facility will enter its second phase. During this period, a grandstand with a capacity of 1,500 spectators will be added; the old facility will be razed, a building housing a swimming pool, team offices, training rooms will be built in its place. List of NCAA Division I baseball venues


Caverswall is a village and parish in Staffordshire, to the south west of Staffordshire Moorlands. The population of the civil parish at the 2011 census was 971; the name Caverswall is thought to have its origins in the Saxon words Cafhere, a personal noun, Waelle, which meant spring or well. By the time of the Domesday Book the village was called Caureswelle. Near the village square are St Peter's Church of England Aided School, St. Peter's Church, St. Filumena's Catholic Church, St. Filumena's Primary School and a now disused Wesleyan Chapel. Located on The Square is the Red House, a public house. In the middle of the square there is a large tree under, a set of stocks. Caverswall Castle may date from a Saxon manor house, but the fortifications date from a licence to crenellate granted in November 1275, although there may have been an earlier application in 1230; the castle remains were in-filled by a house in 1615, by Matthew Craddock from Stafford, the former moat has been restored to encircle the castle.

It is owned. Foxfield Railway is based half a mile away from the village and runs heritage Steam Traction along the former Branch line to Foxfield Colliery. Listed buildings in Caverswall Caverswall Parish Home Page Caverswall Castle Caverswall Middle School grid reference SJ951429

Smile, It's the End of the World

Smile, It's the End of the World is the second full-length album by pop punk band Hawk Nelson. It was released on April 4, 2006; the record was a 2007 GMA Dove Award nominee for Rock Album, produced by Aaron Sprinkle. It was a nominee for Recorded Music Packaging, designed by Jason Powers, it is the longest album by the band. Smile, It's the End of the World charted at No. 75 on the Billboard 200 after selling more than 14,000 copies in its opening week. "The Show" is on the Digital Praise PC game Guitar Praise. All tracks are written by Jason Dunn, Trevor McNevan, unless otherwise noted. A different version of "Bring'Em Out", which features Drake Bell, was released on the band's 2005 EP of the same name and on the special edition of Hawk Nelson Is My Friend; the version with Bell was performed in the film Yours and Ours. Hawk Nelson Jason Dunn — vocals, piano Daniel Birobass, background vocals Jonathan Steingardguitar, background vocals Aaron "Skwid" Tosti — drumsAdditional personnel Aaron Sprinkle — producer J.

R. McNeely — mixer Brandon Ebel — executive producer Everett Dallas, Kenneth E. Larry, James Young, Willie Williams — vocals on "The Show" Josh Head — vocals on "Nothing Left to Show" The band's frontman, Jason Dunn, has said in an interview that there was going to be an actual title song, making the album have thirteen songs; the band has released the song "Everything You Ever Wanted" on Christian radio. It peaked at No. 1 on the Christian Hit Radio format. "The Show" has appeared on Christian radio as well. The band released a video and on the radio for "Zero" on May 30, 2007, it was the 15th most played song of 2007 on U. S. Christian Hit Radio stations. In 2007, the album was nominated for a Dove Award for Rock Album of the Year at the 38th GMA Dove Awards.