Today's post is by David Thorstad on his recent paper “ Why bounded rationality (in epistemology)? ” published in 2023 in Philosophy and Phenomenological Research . David Thorstad Bounded rationality gets a bad rap in epistemology. Critics argue that theories of bounded rationality are too context-sensitive, conventionalist, or reliant on ordinary language. My aim in this paper is to make sure that bounded rationality gets the rap sheet it deserves. The first order of business is to lay out an approach to bounded rationality inspired by traditional theories of bounded rationality in cognitive science. I explain and defend this theory more fully in my book, Inquiry under Bounds , under contract with Oxford University Press. My approach has five core commitments. First, bounds matter. Paradigmatic bounds such as limited cognitive abilities and the cost of computation bear on how it is rational for us to cognize. Second, rationality is procedural , moving upwards from the lower
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