But wikipedia says it means exactly what I thought it meant:
Bounded rationality is the idea that in decision making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.
Let me quote the important part again:
the cognitive limitations of their minds
So everything I said previously stands.
BoI says there are no limits on human minds, other than those imposed by the laws of physics on all minds, and also the improvable-without-limit issue of ignorance.
My surprise was due to you describing the third clause alone. I didn’t think that was the whole meaning.
No, you’re still confused. Unbounded rationality is the theoretical study of minds without any resource limits, not even those imposed by the laws of physics. It’s a purely theoretical construct, since the laws of physics apply to everyone and everything. This conversation started with a quote where K&T used the phrase “bounded rationality” to clarify that they were talking about humans, not about this theoretical construct (which none of us really care about, except sometimes as an explanatory device).
Our “unbounded rationality” is not the type you are talking about. It’s about the possibility of humans making unlimited progress. We conceive of rationality differently than you do. We disagree with your dichotomy, approach to research, assumptions being made, etc...
So, again, there is a difference in world view here, and the “bounded rationality” quote is a good example of the anti-BoI worldview found in the papers.
The phrase “unbounded rationality” was first introduced into this argument by you, quoting K&T. The fact that Beginning of Infinity uses that phrase to mean something else, while talking about a different topic, is completely irrelevant.
But wikipedia says it means exactly what I thought it meant:
Let me quote the important part again:
So everything I said previously stands.
BoI says there are no limits on human minds, other than those imposed by the laws of physics on all minds, and also the improvable-without-limit issue of ignorance.
My surprise was due to you describing the third clause alone. I didn’t think that was the whole meaning.
No, you’re still confused. Unbounded rationality is the theoretical study of minds without any resource limits, not even those imposed by the laws of physics. It’s a purely theoretical construct, since the laws of physics apply to everyone and everything. This conversation started with a quote where K&T used the phrase “bounded rationality” to clarify that they were talking about humans, not about this theoretical construct (which none of us really care about, except sometimes as an explanatory device).
Our “unbounded rationality” is not the type you are talking about. It’s about the possibility of humans making unlimited progress. We conceive of rationality differently than you do. We disagree with your dichotomy, approach to research, assumptions being made, etc...
So, again, there is a difference in world view here, and the “bounded rationality” quote is a good example of the anti-BoI worldview found in the papers.
The phrase “unbounded rationality” was first introduced into this argument by you, quoting K&T. The fact that Beginning of Infinity uses that phrase to mean something else, while talking about a different topic, is completely irrelevant.
please don’t misquote.