Lessons tagged “bounded-rationality”
4 published lessons with this tag.
schema
Schema validation has a cost
Testing takes time and energy — validate the schemas that matter most first.
agents
Satisficing versus maximizing
For most decisions good enough is better than perfect because the search cost exceeds the improvement.
agents
Know when to stop optimizing
The optimal amount of optimization is not infinite — there is a point where you should stop and move on.
operations
Information is raw material for decisions
Every decision you make is only as good as the information it is based on.