The Value-Cost Rationality Mapping Impertinent to the Bounded Rationality Space

초록

The decision of human cognition always accompanies by wavering behavior. It is why a decision bears the ICP (indeterminate, coincidental, path-dependent) property. If the suspicion of mechanical problem holds Akerlof’s used car in check, there is wavering in a purchase decision. The premise CMVCI (consistent measuring of the value-cost indices) severs the behavioral approach from the rationality approach. It is nothing but Hume’s PUN (the principle of the uniformity of nature). The VCR (value-cost rationality) mapping is unfit for modeling the ICP phenomena.

키워드