Krationality
Krationality is a theoretical framework in decision theory and epistemology that evaluates rational action under explicit knowledge constraints. It treats knowledge as a resource that can be scarce, imperfect, or evolving, rather than assuming complete information. Agents are described by a knowledge state K that captures what is known, what remains uncertain, and how new information would change beliefs and opportunities. The framework aims to maximize expected utility while accounting for the costs of acquiring and processing knowledge.
The term emerged in discussions connecting bounded rationality and computational rationality, with K commonly read as
Core ideas include the knowledge state K_t, information costs, belief updates, and decision policies that trade
Methodologically, Krationality is formalized in dynamic settings via variants of partially observable decision processes with additional
Applications appear in artificial intelligence, behavioral economics, and policy design where information costs and knowledge gaps