ARC Discovery Project DP120102463

Bounded rationality is now a commonplace notion amongst the economic/game theory community. It dates back at least to Herbert Simon (1957) who took issue with the assumptions about the knowledge and computational ability of the rational agent championed by economic theorists. Recent work the researchers on this project has focused attention on developing models of boundedly rational individuals who have limited information about and understanding of their environment. This project will further develop these models to capture, more adequately, the various ways individuals learn and adapt to the complexities of their social interactions. The project stands to have vast implications for the future of both economic theory and game theory.

Total amount $351,515

Project members

Staff placeholder

Honorary Professor Simon Grant

Honorary Professor


Jeffrey Kline

Associate Professor Jeffrey Kline

Associate Professor

School of Economics

Professor Flavio Menezes

Professor Flavio Menezes

Deputy Head of School

School of Economics