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This paper presents an evolutionary game model of the "government‐platform‐platform user" based on the assumption of bounded rationality. The model explores the copyright governance mechanism of user‐generated content (UGC) in China by analyzing the strategic interaction between managers and the managed and the influence of various factors. The findings highlight that the government plays a leading role in the governance mechanism of UGC copyright, and the participation of the platform, as the direct manager of information content, can greatly improve the efficiency of supervision. Increasing government penalties, reducing excess revenue from passive platform filtering, and imposing additional payments for users' infringing use can expedite the adoption of evolutionary stability strategies. Furthermore, there exists a practical threshold for government incentives for platforms. Therefore, the construction and optimization of the UGC copyright governance mechanism need to be supported by a dynamic and coordinated reward and punishment system, diversified business objectives, and continuously improving users' copyright awareness. [ABSTRACT FROM AUTHOR]

Do policymaker perceptions reflect actual citizen needs? A vast literature has explored the extent to which policy is responsive to public opinion, but there is little systematic work on policymaker perceptions of social problems. We quantify social problems with a unique dataset of the number of phone calls placed by citizens to a free service that connects Michigan residents to service providers. We combine these data with a survey of local policymakers' perceptions of social problems facing their own city shows, consistent with theories of bounded rationality, that policymakers use heuristics to make judgments about the extent of constituent needs in their city, and that policymaker perceptions reflect the prevalence of needs. However, partisan perceptions of needs diverge, with Democrats consistently perceiving greater needs than Republicans. There is no evidence that policy activity on the needs in the sample is responsive to constituent needs. We conclude with implications for theories of policy making and avenues for future research. [ABSTRACT FROM AUTHOR]

To understand non-compliance behaviors in investment goods in pandemic preparedness and resilience, we resort to a form of bounded rationality that people suffer from a lack of self-control due to "present bias", and differ in their sophistication levels (the degree to which they are aware of such compliance barriers). We focus on (i) the manufacturer's pricing strategy under an advance selling framework, and (ii) the subsidy policy to mitigate under-adoption, to generate operational insights. We show that subsidizing the manufacturer is more cost-effective than subsidizing consumers, because the latter subsidy will not fully trickle down to consumers when the manufacturering manipulates prices in response. In particular, when the subsidy program is budget-constrained, the manufacturer subsidy should be provided only in the spot period. In contrast, when the budget constraint is relaxed, subsidies in both periods should be provided. Surprisingly, such a subsidy program has non-monotone impacts on consumers' adoption quantities. Intuitively, this is because the spot-period subsidy induces consumers' non-compliance behaviors in the advance period. In response, the manufacturer/seller will shift to a pricing strategy that may further reduce the advance-selling quantity. This result provides a natural explanation to reconcile the mixed effects of adoption subsidies. [ABSTRACT FROM AUTHOR]

Perfectly rational decision making is almost always out of reach for people because their computational resources are limited. Instead, people may rely on computationally frugal heuristics that usually yield good outcomes. Although previous research has identified many such heuristics, discovering good heuristics and predicting when they will be used remains challenging. Here, we present a theoretical framework that allows us to use methods from machine learning to automatically derive the best heuristic to use in any given situation by considering how to make the best use of limited cognitive resources. To demonstrate the generalizability and accuracy of our method, we compare the heuristics it discovers against those used by people across a wide range of multi-attribute risky choice environments in a behavioral experiment that is an order of magnitude larger than any previous experiments of its type. Our method rediscovered known heuristics, identifying them as rational strategies for specific environments, and discovered novel heuristics that had been previously overlooked. Our results show that people adapt their decision strategies to the structure of the environment and generally make good use of their limited cognitive resources, although their strategy choices do not always fully exploit the structure of the environment. [ABSTRACT FROM AUTHOR]

The article examines the performance gains of modern recommender systems, questioning whether the improvements stem from a deeper understanding of user preferences or from exploiting human cognitive biases. Topics include a framework for benchmarking manipulation levels, metrics like Manipulation Score and Preference Shift, and the impact of training data on manipulation degrees.

Transitive causative change of state (TCoS) verbs elicit scalar readings, distinguishing them between: upper-bounded verbs (e.g., dry), denoting a culminating change of state, and lower-bounded verbs (e.g., wrinkle), denoting a change from a zero to a non-zero value (or from one value to another) regarding the property described by the semantic core of the verb. In their eventive reading, transitive experiencer object (TEO) verbs (e.g., calm down, delight) also denote causative eventualities able to yield scalar inferences. This study investigates whether TEO verbs are also associated with a minimum or maximum standard degree, proposing a similar subdivision of TEO verbs into lower-bounded items (delight) and upper-bounded items (calm down). In a forced-choice selection experiment we tested the impact of the standard degree (bound) of the semantic core of Spanish TEO verbs on the availability of lower-bounded or upper-bounded readings comparing them to TCoS verbs. Results revealed that the factor bound was significant to the extent that both lower-bounded TEO and TCoS predicates yielded the response compatible with a lower-bounded reading significantly more often than predicates that possess a maximum degree, supporting the distinction between lower and upper bounded items. Further, a significant effect of verb type was also observed, differentiating a change of state on the mental (TEO) versus the physical (TCoS) levels. [ABSTRACT FROM AUTHOR]

To mitigate losses from public health emergencies, promptly choosing an emergency medical supply distribution center is essential. The success of rescues hinges on the center's location. Location decision for such centers is fraught with uncertainty and risk, complicating the task for decision makers (DMs). Often, DMs operate under bounded rationality in urgent situations. In response, this paper introduces a novel fuzzy multicriteria decision-making approach, integrating interval-valued intuitionistic fuzzy numbers, interval intuitionistic trapezoidal fuzzy numbers, not-in-my-backyard (NIMBY) effect, and cumulative prospect theory, to address the uncertainty and risk in decision-making. The method begins by introducing the NIMBY effect to construct the evaluation criteria system of emergency medical supply distribution centers. Next, the alternative under the evaluation criteria is evaluated by fuzzy linguistic terms and interval intuitionistic trapezoidal fuzzy numbers. The interval-valued intuitionistic fuzzy numbers are used to determine the weight of each DM by calculating the relative scores of advantage and disadvantage. The criteria weight is determined via a combination of fuzzy network analysis and the entropy weight method. Cumulative prospect theory is then employed to rank site selections, factoring in DM risk preferences. The approach is tested on an emergency medical supply distribution center location for sensitivity and comparative analysis, proving its efficacy and stability. This research presents an innovative fuzzy model for evaluating emergency medical supply distribution center site selection in uncertain conditions, suggesting the need to incorporate multiple dimensions such as realistic criteria systems, uncertain decision information, and variable environments in such decision-making processes. [ABSTRACT FROM AUTHOR]

Policies concerning subsidies for new energy vehicles and consumers' environmental preferences significantly impact the sales of such vehicles. To investigate the correlation between sales and subsidies or consumers' environmental preferences and to devise optimal subsidy strategies, two Stackelberg game models are constructed based on both monopoly and duopoly markets, with solutions derived for Nash equilibrium points. In order to refine the strategy for subsidy adjustments, two dynamic adjustment models considering bounded rationality are established. Additionally, the process of adjusting subsidies towards Nash equilibrium points is analyzed. Simulations, utilizing actual research data, are performed to assess China's current adjustment strategies. The findings reveal a substitution relationship between consumers' environmental preferences and subsidies. Furthermore, optimal subsidy levels and bounded rational subsidy adjustment strategies are identified. Governments should thoroughly consider consumers' environmental preferences when refining subsidy policies, as it is a crucial factor influencing the development of the new energy vehicle industry. [ABSTRACT FROM AUTHOR]

This article forms part of a series on "openness," "non-linearity," and "embodiedhealth" in the post-physical, informational (virtual) era of society. This is vital given that the threats posed by advances in artificial intelligence call for a holistic, embodied approach. Typically, health is separated into different categories, for example, (psycho)mental health, biological/bodily health, genetic health, environmental health, or reproductive health. However, this separation only serves to undermine health; there can be no separation of health into subgroups (psychosomatics, for example). Embodied health contains no false divisions and relies on "optimism" as the key framing value. Optimism is only achieved through the mechanism/enabling condition of openness. Openness is vital to secure the embodied health for individuals and societies. Optimism demands that persons become active participants within their own lives and are not mere blank slates, painted in the colors of physical determinism (thus a move away from nihilism-which is the annihilation of freedom/autonomy/ quality). To build an account of embodied health, the following themes/aims are analyzed, built, and validated: (1) a modern re-interpretation and validation of German idealism (the crux of many legal-ethical systems) and Freud; (2) ascertaining the bounded rationality and conceptual semantics of openness (which underlies thermodynamics, psychosocial relations, individual autonomy, ethics, and as being a central constitutional governmental value for many regulatory systems); (3) the link between openness and societal/individual embodied health, freedom, and autonomy; (4) securing the role of individualism/ subjectivity in constituting openness; (5) the vital role of nonlinear dynamics in securing optimism and embodied health; (6) validation of arguments using the methodological scientific value of invariance (generalization value) by drawing evidence from (i) information and computer sciences, (ii) quantum theory, and (iii) bio-genetic evolutionary evidence; and (7) a validation and promotion of the inalienable role of theoretic philosophy in constituting embodied health, and how modern society denigrates embodied health, by misconstruing and undermining theoretics. Thus, this paper provides and defends an up-to-date non-physical account of embodied health by creating a psychophysical-biological-computational-philosophical construction. Thus, this paper also brings invaluable coherence to legal and ethical debates on points of technicality from the empirical sciences, demonstrating that each field is saying the same thing. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Shenzhen University Science & Engineering is the property of Editorial Department of Journal of Shenzhen University Science & Engineering and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this paper, two dynamic models, recently proposed to describe the adaptive repeated choices of a boundedly rational consumer, are joined together. One considers a consumer adjusting the consumption level of a given good over time according to the observed discrepancy between expected and realized utility gain and modifies the utility function according to past consumption experience, also including saturation effects when past consumption is excessive. The other one considers the same adjustment mechanism with constant preferences but with a behavioral effect that introduces a tendency (or bias) to imitate a reference group of consumers. Merging these two models, a two-dimensional nonlinear dynamical system is obtained which describes consumers that decide their next period consumption of a given good by following two different (sometimes contrasting) criteria: their own utility maximization on the one side and imitation of a reference group of consumers on the other side. This leads to a greater uncertainty with respect to the model without the behavioral bias. Such uncertainty is studied through a numerical exploration of the long-run dynamics, guided by some global dynamical features of the nonlinear model, such as the folding action of the critical curves that characterize the behavior of the iterated noninvertible map and the singularities related to the presence of a vanishing denominator, namely focal points and prefocal curves. So, the aim of the paper is twofold: on the one side, it tries to contribute to the literature on the economic theory of boundedly rational consumers represented by evolutionary and behavioral approaches; On the other side, it tries to contribute to the recent literature about the global analysis of discrete dynamical systems characterized by contact bifurcations leading to the creation of complex topological structures of the attractors and their basins of attraction. [ABSTRACT FROM AUTHOR]

Based on the existence of technology spillover effect of manufacturers, considering the manufacturer's commercial goals of profit and market share, a dynamic price game model of technology spillover supply chain with dual commercial goals is established. Based on game theory and nonlinear dynamics theory, the equilibrium point and local stability of the system are analyzed. In addition, the effects of price adjustment rate, balance coefficient of business objectives, and technology spillover on model complexity, the change of manufacturer price and profit were analyzed through numerical simulation. The results show that the price adjustment rate, the balance coefficient of business objectives, and the technology spillover have an impact on the stability and complexity of the manufacturer's price competition model. Rationally controlling the price adjustment rate, and enhancing technological spillovers are beneficial to the healthy development of manufacturers and the healthy competition among manufacturers, maintaining the stability of product market prices, and effectively avoiding market chaos. Moreover, when considering market share, manufacturers can expand the system stability domain. [ABSTRACT FROM AUTHOR]

The advances of technological development prompted the formation of new business models, and the changes in people's lifestyles and eating habits have driven the rapid emergence of online food delivery platforms. Food delivery orders have been increasing along with consumer disputes. To reduce these disputes and enable relevant participants to actively supervise, report, and comply with rules to maintain the operation of the delivery platforms, this study constructs a tripartite evolutionary game model consisting of platforms, restaurants, and consumers, based on the assumption of participants' bounded rationality and their expected benefits, and analyzes the main factors that determine the best strategy. Concurrently, the evolutionary paths and equilibrium states among the three groups are explored through numerical simulation analysis, and attempts are made to reduce the possibility of delivery platform issues through mutual restraint and cooperation. The results of the study demonstrate that platforms should impose severe penalties on restaurants that violate the regulations; the reduction of incentive value will make platforms more inclined to choose a supervision strategy. The platforms should adopt a supervision strategy if their supervision costs plus incentive expenses minus penalty revenues are lower than the negative social evaluations caused by lack of supervision by platforms. [ABSTRACT FROM AUTHOR]

In this paper, I develop an algorithmic impossible-worlds model of belief and knowledge that provides a middle ground between models that entail that everyone is logically omniscient and those that are compatible with even the most egregious kinds of logical incompetence. In outline, the model entails that an agent believes (knows) $\phi $ just in case she can easily (and correctly) compute that $\phi $ is true and thus has the capacity to make her actions depend on whether $\phi $. The model thereby captures the standard view that belief and knowledge ground are constitutively connected to dispositions to act. As I explain, the model improves upon standard algorithmic models developed by Parikh, Halpern, Moses, Vardi, and Duc, among other ways, by integrating them into an impossible-worlds framework. The model also avoids some important disadvantages of recent candidate middle-ground models based on dynamic epistemic logic or step logic, and it can subsume their most important advantages. [ABSTRACT FROM AUTHOR]

Lack of effective collaboration among energy-related stakeholders is considered as a critical factor that affects building energy performance. Although previous studies have explored energy-related stakeholders' collaboration behavior, there is still a lack of simulation model that can be easily used for collaboration analysis with the consideration of dynamic nature, generality and practicability. To fill this gap, a hybrid dynamic model with the combination of system dynamic and agent-based modeling was developed in this study. Strict model structure tests and model behavior tests were conducted to validate the proposed model. To demonstrate the use of the hybrid model, a tentative exploration of the collaboration among stakeholders was presented. The simulation results showed that (1) a single policy of government subsidies has some limitations for promoting collaboration and improving building energy performance; (2) technical innovation can improve not only the rate but also the quality of collaboration; (3) the effect of long-term gain on collaboration and the building energy performance is sustained; (4) the penalties has an upper limit to reduce the building energy performance gap; (5) the integrated effect on the building energy performance may be less significant than that of the simple sum of each strategy; and (6) there is an incremental and then decreasing marginal utility of integrated strategies. The hybrid model provides quantitative research methods to better analyze the collaboration among energy-related stakeholders. Both the dynamic collaboration decision process and the bounded rationality of stakeholders have been considered. [ABSTRACT FROM AUTHOR]

Collaboration networks are not intrinsically unstable and fragile, ego-network stability cannot be taken for granted. Extant research has highlighted the determinants of ego-network stability; nevertheless, it is still unclear how behavioral factors affect a firm's ego-network stability in a collaboration network as a consequence of a decision-maker's bounded rationality. Drawing from the behavioral theory of the firm and attention-based view, this paper explores how ego-network stability is affected by performance feedback and investigates the influence of CEOs' information advantage and power on firms' responses to performance feedback. Using longitudinal data on Chinese publicly listed firms in the pharmaceutical industry from 2007 to 2020, we find that the magnitude of a firm's outperformance relative to its aspirations harms its ego-network stability. The magnitude of a firm's underperformance relative to its aspirations has a U-shaped relationship with its ego-network stability. Moreover, CEOs' social capital and power strengthen the negative relationship between the magnitude of a firm's outperformance relative to its aspirations and its ego-network stability, and CEOs' social capital flattens the U-shaped effect of the magnitude of a firm's underperformance relative to its aspirations on its ego-network stability. [ABSTRACT FROM AUTHOR]

The main purpose of this paper is to investigate the type of monadic bounded L-algebras as L-algebras equipped with two monadic operators, named universal quantifier "∀" and existential quantifier "∃", respectively. First, we investigate the properties of pre-ideals on L-algebras and the pre-ideal generated by a nonempty subset of an L-algebra is defined. Second, we investigate monadic bounded L-algebras and monadic pre-ideals in monadic bounded L-algebras. Moreover, the relation between monadic bounded L-algebras and monadic quantum B-algebras is discussed. Finally, the relations among monadic self-similar L-algebras and other monadic structures are discussed, such as monadic (left) hoops, monadic Wajsberg hoops and monadic MV-algebras. Moreover, we obtain a characterization of monadic bounded L-algebras and monadic bounded self-similar L-algebras by relatively complete subalgebras and m-relatively complete subalgebras, respectively. These results are important to the further study of logical system with monadic operators. [ABSTRACT FROM AUTHOR]

In the benchmark New Keynesian (NK) model, I introduce the real cost channel to study government spending multipliers and provide simple Markov chain closed-form solutions. This model departs fundamentally from most previous interpretations of the nominal cost channel by flattening the NK Phillips Curve in liquidity traps. At the zero lower bound, I show analytically that following positive government spending shocks, the real cost channel can make inflation rise less than in a model without this channel. This then causes a smaller drop in real interest rates, resulting in a lower output gap multiplier. Finally, I confirm the robustness of the real cost channel's effect on multipliers using extensions of two models. [ABSTRACT FROM AUTHOR]

Copyright of Social Science Information is the property of Sage Publications, Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Probabilistic selling with vertically differentiated products has witnessed strong growth and receives increasing attention. We investigate probabilistic selling in a distribution channel, where an online retailer allows a manufacturer to sell two vertically differentiated products to consumers as a marketplace and decides whether to generate the probabilistic product. We show that probabilistic product is available only when two necessary conditions are satisfied. One condition is that salient thinkers exist in the market, who consider the probabilistic product with less price sensitivity than rational consumers. Another condition is that the probabilistic product must come from two vertically differentiated products with sufficient quality differentiation. If probabilistic selling is used, it realizes price discrimination as a positive effect yet induces cannibalization as a negative effect. Furthermore, we recommend that the online retailer, acting as the more powerful player, should employ a revenue sharing contract to improve the performance of the total distribution channel. [ABSTRACT FROM AUTHOR]

This note in the Milestones series is dedicated to the paper "A Behavioral Model of Rational Choice", written by Herbert Simon and published in 1955 on the Quarterly Journal of Economics. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Railway Science & Engineering is the property of Journal of Railway Science & Engineering Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The high penetration of the renewables makes the power grid operation less reliable and risky. Demand Response programs can provide flexible capacity to alleviate the operational pressure. In a typical competitive retail market, the electricity retailer can incentivize the consumers to provide demand reduction in the reserve market and obtain additional profit from the grid. In the wholesale and reserve market, the participants receive a two-part income of certain revenue and activation revenue. In this paper, the optimal strategy of the electricity retailers is studied, including two proposed retail plans as well as the retailer’s bidding strategy in the wholesale reserve market. The proposed strategy is proven effective through a case study, demonstrating that introducing incentive-based demand response in the retail plan creates a win-win-win situation for the grid, retailers, and consumers. The experiment demonstrates that competitive bundles can generate at least 22 % additional revenue for retailers, while customized bundles can bring in an additional 23 % revenue for retailers and contribute to the system with an extra 9 % in reserve capacity bidding.

Copyright of Journal of Hubei Open Vocational College is the property of Journal of Hubei Open Vocational College Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set solution concept and establish the existence of a unique pure-strategy price solution for any given level of capacity. This solution is shown to coincide with the set of pure-strategy Nash equilibria when capacities are large or small. For an intermediate range of capacities, it predicts a price interval that includes the mixed-strategy support. This stability concept thus encompasses all Nash equilibria and offers a pure-strategy solution when there is none in Nash terms. It particularly provides a behavioral rationale for different pricing patterns, including Edgeworth price cycles and states of hyper-competition with supply shortages. We also analyze the impact of a change in firm size distribution. A merger among the biggest firms may lead to more price dispersion as it increases the maximum and decreases the minimum myopically stable price. [ABSTRACT FROM AUTHOR]

The present approach intends to explore, analyze and propose fundamental research approaches and hypotheses in the field of psychosociology, namely in the research of social change and its consequences at the individual human level. By researching the bibliography related to the consequences of major social developments (the pre-modernity of community solids, the modernity of rational social solids and the postmodernity of social dynamics) and of the paradigm shifts in the field of socio-human sciences, by analyzing the theories of social change and the transition from institutionalist, structuralist definitions of social facts, to interactionist, processual, fluid ones, it is possible to arrive at the formulation of at least one hypothesis of the type of modeled and socially limited reason in postmodernity. The dimensions and instances of this shaping are the education system, consumer culture, and entertainment culture. The analysis of the aims and results of the education systems, the ability of the entertainment culture to extract the human person from the confrontation with superior models of life or action, the consumerist skills that influence and define more and more of the mental operations of contemporary man – support, at a theoretical level, the possibility of defining a new style of human reason. This – proposed to be labelled as limited or moderate reason – is meant to be sufficiently awake to maintain the functioning of rational social systems, yet passive enough not to see their limits and defects. [ABSTRACT FROM AUTHOR]

Early-stage ventures often face bounded rationality from a lack of experience as well as limited resources. A strategic choice to patent a firm's innovations to prevent competitor infringement involves significant resource commitments. We hypothesise that for early-stage ventures, having a patent could create liability on short-term financial performance; however, higher levels of market orientation could overcome it. We find support for our hypotheses using a sample of early-stage ventures that apply to business accelerators for support. This study contributes to the extant literature on innovation and entrepreneurship, as well as on market orientation, to show that for early-stage ventures, a potential liability of patenting exists, but it can be mitigated by higher levels of market orientation. [ABSTRACT FROM AUTHOR]

Two agents announce the state they consider most likely infinitely many times. A small departure from common belief in rationality can have a severe impact on the belief about the state and on the behavior of an extremist: while initial periods of disagreement produce a temporary convergence of beliefs, prolonged disagreement induces reversion towards the initial belief. The mechanism is simple: the longer the counterpart insists on the opposite view, the more the extremist doubts that the counterpart is intellectually capable and honest, and therefore the more he discounts the counterpart's opinion. [ABSTRACT FROM AUTHOR]

An increasingly prevalent approach to studying human cognition is to construe the mind as optimally allocating limited cognitive resources among cognitive processes. Under this bounded rationality approach (Icard in Philos Sci 85(1):79–101, 2018; Simon in Utility and probability, Palgrave Macmillan, 1980), it is common to assume that resource-bounded cognitive agents approximate normative solutions to statistical inference problems, and that much of the bias and variability in human performance can be explained in terms of the approximation strategies we employ. In this paper, we argue that this approach restricts itself to an unnecessarily narrow scope of cognitive models, which limits its ability to explain how humans flexibly adapt their representations to novel environments. We argue that more attention should be paid to how we form our cognitive representations in the first place, and advocate for pluralistic framework which jointly optimizes over both representations and algorithms for manipulating them. We identify several fundamental trade-offs that manifest in this joint optimization, and draw on recent work to motivate a unified formal framework for this analysis. We illustrate a simplified version of this analysis with a case study in social cognition, and outline several new directions for research that this approach suggests. [ABSTRACT FROM AUTHOR]

This research introduces a new heuristic decision model called myopic-value of perfect information (VPI) to study multiarmed bandit (MAB) problems. The myopic-VPI approach only involves ranking the alternatives and computing a one-dimensional integration to obtain the expected future value of exploration. Because myopic-VPI is intuitive and does not involve solving a dynamic programming problem, it has the potential to serve as a useful heuristic approach to model exploration-exploitation tradeoffs. We conduct a series of simulation experiments to study its performance relative to other heuristics under a wide range of parameterizations. We find that myopic-VPI provides significant savings in computational time and decent performance in accumulated utility (although not the strongest) relative to other forward-looking heuristics; this suggests that it is a useful "fast-and-frugal" heuristic. Furthermore, our simulation experiments also reveal the conditions under which myopic-VPI outperforms and underperforms compared with other heuristics. Its empirical performance in the diaper category further shows that myopic-VPI can save estimation time significantly and fit the data on par with index and near-optimal, providing encouraging news that myopic-VPI could be added to the researcher's or practitioner's toolkit for MAB problems. This paper was accepted by Gui Liberali, marketing. Supplemental Material: The online appendices are available at https://doi.org/10.1287/mnsc.2019.00578. [ABSTRACT FROM AUTHOR]

Introduction: Patient satisfaction is a crucial metric to gauge the quality of medical services, but the psychological factors influencing patient satisfaction remain insufficiently explored. Methods: This study examines these psychological factors by applying the theory of bounded rationality to 1,442 inpatients in Hangzhou, China, whose data were collected using a questionnaire. One-way ANOVA, correlation analysis, and hierarchical regression were used to analyze patient satisfaction and its associated factors. Additionally, the path analysis of the structural equation model revealed the mechanisms behind the key psychological factors that influenced patient satisfaction. Results: Medical risk perception, the social cognition of the medical environment, and social desirability bias had significant positive impacts on patient satisfaction. By contrast, negative emotions had a significant negative impact on patient satisfaction. Notably, patients' negative emotions had both a suppressive effect and a positive moderating effect on the relationship between medical risk perception and patient satisfaction. Similarly, social desirability bias had a suppressive effect on the correlation between the social cognition of the medical environment and patient satisfaction, albeit with a negative moderating effect. Discussion: These results suggest that when evaluating and improving patient satisfaction, accounting only for the factors that directly influence medical service quality is insufficient, as the indirect and moderating effects of patients' negative emotions and the social cognition of the medical environment must also be considered. Medical service providers should thus address patients' negative emotions, establish good doctor-patient relationships, optimize service environments, provide managers with medical risk education and training on negative emotions, and prioritize patient-centered care. Additionally, the government and relevant health departments should optimize medical policies, enhance fairness and accessibility, and create a positive social cognitive environment through public education and awareness campaigns. [ABSTRACT FROM AUTHOR]

With the large-scale development of distributed energy on the demand side, the trend of "supply exceeding demand" has gradually become prominent, and regional peer-to-peer (P2P) energy trading has become an important measure to improve the local consumption of distributed energy. However, most existing studies usually assume that prosumers behave entirely rationally with the goal of maximum benefit, which has been proved to deviate from the observed actual behaviors. Aiming at the optimal energy of prosumers participating in the P2P market, a prospect theory-based two-stage stochastic optimization model considering the bounded rationality was proposed to accurately simulate the decision-making behavior. Then, a benefit maximization model for the energy trading service provider (ETSP) was constructed considering the power flow constraint to ensure the safe operation of the system. Finally, an improved R-ADMM algorithm considering timeout was proposed to solve the above model and improve the convergence speed. The effectiveness of the proposed model and algorithm was verified via simulation. [ABSTRACT FROM AUTHOR]

The main purpose of this paper is to investigate the well-posedness for mean field game with finite state and action space (FSASMFG) by using nonlinear analysis methods. First, we set up the bounded rationality model of the FSASMFG in the topological space. Next, we study some sufficient conditions of generalized strong well-posedness (GS-wp) and strong well-posedness (S-wp) for a class of FSASMFGs. Finally, we give some characterizations of GS-wp and S-wp for FSASMFGs with the help of set-valued analysis methods. These new results presented in the paper develop and improve the corresponding conclusions in the recent literature. [ABSTRACT FROM AUTHOR]

• A chat service with actively involved customers and repeating interactions is studied. • The capacity of parallel chats and the server's response effort are derived. • A queueing game for a dual-channel system of chat service and call center is analyzed. • Customer bounded rationality is considered. Many service systems in various type of industry provide services via chat technologies. This type of service system is characterized by an interesting combination of properties. First, the customer is actively involved in service execution, since the service is comprised of responses of the server and the customer to each other, until the customer's request is satisfied. In addition, in such a system, the service can be provided by a single server in a parallel manner to a number of customers. Motivated by these and others interesting properties of the chat service, we formulate and analyze the stochastic queueing system as a two-dimensional quasi-birth-and-death process and derive its steady-state probabilities using matrix geometric methods. By means of economic analysis, we provide a scheme for deriving the optimal capacity of parallel chats and the optimal response effort that should be made by the server, considering that higher effort lengthens the response time but increases the probability of successful service completion. We next investigate a queueing game that considers a multi-channel service system consisting of a chat service and a traditional multi-server call center, and we consider strategic customers under both a centralized and a decentralized scenario. We show that competition between service channels may lead to lower service utilization even though customers enjoy higher expected utility. Finally, customer bounded rationality is considered and it is shown that customers who are less rational may enjoy higher utility. Sensitivity analyses are conducted for all scenarios. [ABSTRACT FROM AUTHOR]

While action selection strategies in well-defined domains have received considerable attention, little is yet known about how people choose what to do next in ill-defined tasks. In this contribution, we shed light on this issue by considering everyday tasks, which in many cases have a multitude of possible solutions (e.g., it does not matter in which order the items are brought to the table when setting a table) and are thus categorized as ill-defined problems. Even if there are no hard constraints on the ordering of subtasks in everyday activities, our research shows that people exhibit specific preferences. We propose that these preferences arise from bounded rationality, that is, people only have limited knowledge and processing power available, which results in a preference to minimize the overall physical and cognitive effort. In the context of everyday activities, this can be achieved by (a) taking properties of the spatial environment into account to use them to one's advantage, and (b) employing a stepwise-optimal action selection strategy. We present the Opportunistic Planning Model as an explanatory cognitive model, which instantiates these assumptions, and show that the model is able to generalize to new everyday tasks, outperforming machine learning models such as neural networks during generalization. [ABSTRACT FROM AUTHOR]