BAE 102 Student Lecture Notes Week Fourteen

Bounded rationalityinanutshell

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Unformatted text preview: ture has the characteristic that it stays balanced regardless of outside forces pushing on the system. Policies that affect one side or the other of the system end up failing because the system reacts to negate this change. 2. ___________________________ comes about when there is escalation or just simple growth, in a commonly shared, erodible environment. Bounded rationality in a nutshell. A commons system needs users of the resource which have good reason to increase their use of the commons and which increase at a rate that is not influenced by the conditions of the commons. 3. ____________________________. Some systems not only resist policy and stay in a normal bad state, they keep getting worse. In this system there is a distinction between the actual system state and the perceived state. The actor tends to believe bad news more than good news area the des...
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This note was uploaded on 02/05/2014 for the course BAE 102 taught by Professor Staff during the Fall '08 term at Kentucky.

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