causal
Optimization Assumption Hides Modeling Difficulty
Modeling becomes deceptively easy if you assume agents optimize like physicists, because then everything reduces to math; but realistic modeling must also describe how boundedly-rational agents muddle through via heuristics and trial-and-error with few trials, which is far harder and is often avoided—'looking for the keys under the lamppost.'
causalpending
Speaker
Paul PfleidererEvidence Quote
“It's much easier to say, Well, here's the environment; now I'll just assume that agents have rational expectations, infinite processing power, and can optimize.”
Created: 6/13/2026, 12:27:00 AM
My Notes
Loading notes...