Re: CAMREC: GAs and NNs are just as bad as optimisation!

From: the Campaign for Real Economics (camrec@mmu.ac.uk)
Date: Tue Mar 30 1999 - 10:09:05 BST


Date: Tue, 30 Mar 1999 10:09:05 +0100
Message-Id: <199903031148.LAA00505@alpheratz.cpm.aca.mmu.ac.uk>
To: bogus
From: camrec@mmu.ac.uk (the Campaign for Real Economics)
Subject: Re: CAMREC: GAs and NNs are just as bad as optimisation!
In-Reply-To: <CAMREC: GAs and NNs are just as bad as optimisation!>


Message-Id: <199903300911.KAA29821@alpheratz.cpm.aca.mmu.ac.uk>
To: CAMREC list members <camrec@mmu.ac.uk>
From: the Campaign for Real Economics <camrec@mmu.ac.uk>
Date: Tue, 30 Mar 1999 10:09:05 +0100
Subject: CAMREC: New CPM-report: "The Cost of Rational Agency" by Scott Moss

The Cost of Rational Agency

By:Scott Moss
Date: March 1999

Abstract

The rational agency assumption limits systems to domains of
application that have never been observed. Moreover,
representing agents as being rational in the sense of maximising
utility subject to some well specified constraints renders
software systems virtiually unscalable. These properties of the
rational agency assumption are shown to be unnecessary in
representations or analogies of markets. The demonstration
starts with an analysis of how the rational agency assumption
limits the applicability and scalability of the IBM information
filetering economy. An unrestricted specification of the
information filtering economy is developed from an analysis of
the properties of markets as systems and the implementation of
a model based on intelligent agents. This extended information
filtering economy modelis used to test the analytical results on
the scope for agents to act as intermediaries between human
users and information sources.

Available at URL:
        http://www.cpm.mmu.ac.uk/cpmrep51.html



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