
Consumer Optimization Problem Solving
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What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered tractable for an unaided human and this defines Simon''s concept of bounded rationality.Humans make ...
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What algorithms are tractable depends on the speed of the processor. Given the speed of digital computers, polynomial algorithms are considered tractable. But, a human can take several seconds to make one binary comparison between two pens. Given this slow speed, sublinear algorithms are considered tractable for an unaided human and this defines Simon''s concept of bounded rationality.Humans make ...
Read more
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