Indifference bands for boundedly rational route switching
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DOI: 10.1007/s11116-016-9699-1
Abstract: The replacement I-35W bridge in Minneapolis saw less traffic than the original bridge though it provided substantial travel time saving for many travelers. This observation cannot be explained by the classical route choice assumption that… read more here.
Keywords: boundedly rational; indifference bands; route switching; indifference ... See more keywords
Managing retrial queueing systems with boundedly rational customers
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DOI: 10.1080/01605682.2022.2053305
Abstract: Abstract Bounded rationality includes potential cognitive deficits that limit human rational behaviour. In this paper, we allow for estimation errors of their utility and consider bounded rationality in queueing models with retrials. Upon arrival, customers… read more here.
Keywords: bounded rationality; optimal price; revenue; rationality ... See more keywords
Optimizing Mobile Crowdsensing Platforms for Boundedly Rational Users
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DOI: 10.1109/tmc.2020.3023757
Abstract: In participatory mobile crowdsensing (MCS) users repeatedly make choices among a finite set of alternatives, i.e., whether to contribute to a task or not and which task to contribute to. The platform coordinating the MCS… read more here.
Keywords: crowdsensing platforms; optimizing mobile; task; boundedly rational ... See more keywords
A Boundedly Rational Decision-Making Model Based on Weakly Consistent Preference Relations
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DOI: 10.3390/sym14050918
Abstract: Completeness is one of the basic assumptions about the rational preference relation in classical decision theory. Strongly and weakly consistent preferences are presented by abandoning the completeness of the rational preference relation. Some expansion and… read more here.
Keywords: weakly consistent; rational decision; preference; decision making ... See more keywords