Consequences of Optimality
share
Rationality is often related to optimal decision making. Humans are known to be bounded rational agents. However, recent advances in computing along with large amount of data have led to a feeling that this could result in extending the limits of bounded rationality in humans through augmented machine intelligence. In this paper, results from a computational model show that as more agents reach global optimality (faster), solving the same problem independently, this leads to accelerated tragedy of the commons. Thus, bounded rationality could be seen as blessing in disguise (providing diversity to the solutions of same problem) from sustainability standpoint.
READ FULL TEXT