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Dynamic cases of bounded rationality

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In dynamic cases of bounded rationality, the organism may find it either easy or difficult to find satisfactory alternatives during its exploration of alternatives. This frequently causes the organism to alter its aspiration level: increasing it if it easily finds satisfactory alternatives and decreasing its aspirations if it they are hard to meet. This boundedly rational approach increases the probability that a "satisfactory" solution is achieved relative to the sequential case above in which the organism continues on and accepts the first adequate solution encountered, if any, that meets its a priori criteria of satisfaction

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Reference no: EM131766908

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