Incomplete Quotes - page 7
But this, this which we say before we're sorry,
This which we live behind our unseen faces,
Is neither dream, nor childhood, neither
Myth, nor landscape, final, nor finished,
For we are incomplete and know no future,
And we are howling or dancing out our souls
In beating syllables before the curtain:
We are Shakespearean, we are strangers.
Delmore Schwartz
Global rationality, the rationality of neoclassical theory, assumes that the decision maker has a comprehensive, consistent utility function, knows all the alternatives that are available for choice, can compute the expected value of utility associated with each alternative, and chooses the alternative that maximizes expected utility. Bounded rationality, a rationality that is consistent with our knowledge of actual human choice behavior, assumes that the decision maker must search for alternatives, has egregiously incomplete and inaccurate knowledge about the consequences of actions, and chooses actions that are expected to be satisfactory.
Herbert Simon