From a computational point of view, decision procedures can be encoded in [[algorithms]] and [[heuristics]]. [[Edward Tsang]] argues that the effective rationality of an agent is determined by its [[computational intelligence]]. Everything else being equal, an agent that has better algorithms and heuristics could make "more rational" (more optimal) decisions than one that has poorer heuristics and algorithms.<ref>{{cite journal |doi=10.1007/s11633-008-0063-6 |author=Tsang, E.P.K. |title=Computational intelligence determines effective rationality |journal= International Journal of Automation and Computing|volume=5 |issue=1 |pages=63–6 |year=2008 |s2cid=9769519 }}</ref> [[Tshilidzi Marwala]] and [[Evan Hurwitz]] in their study on bounded rationality observed that advances in technology (e.g. computer processing power because of [[Moore's law]], [[artificial intelligence]] and big data analytics) expand the bounds that define the feasible rationality space. Because of this expansion of the bounds of rationality, machine automated decision making makes markets more efficient.<ref>{{cite book |last1=Marwala |first1= Tshilidzi| last2=Hurwitz |first2= Evan |title=Artificial Intelligence and Economic Theory: Skynet in the Market |year=2017 |publisher=[[Springer Science+Business Media|Springer]] |location=London |isbn=978-3-319-66104-9}}</ref> | From a computational point of view, decision procedures can be encoded in [[algorithms]] and [[heuristics]]. [[Edward Tsang]] argues that the effective rationality of an agent is determined by its [[computational intelligence]]. Everything else being equal, an agent that has better algorithms and heuristics could make "more rational" (more optimal) decisions than one that has poorer heuristics and algorithms.<ref>{{cite journal |doi=10.1007/s11633-008-0063-6 |author=Tsang, E.P.K. |title=Computational intelligence determines effective rationality |journal= International Journal of Automation and Computing|volume=5 |issue=1 |pages=63–6 |year=2008 |s2cid=9769519 }}</ref> [[Tshilidzi Marwala]] and [[Evan Hurwitz]] in their study on bounded rationality observed that advances in technology (e.g. computer processing power because of [[Moore's law]], [[artificial intelligence]] and big data analytics) expand the bounds that define the feasible rationality space. Because of this expansion of the bounds of rationality, machine automated decision making makes markets more efficient.<ref>{{cite book |last1=Marwala |first1= Tshilidzi| last2=Hurwitz |first2= Evan |title=Artificial Intelligence and Economic Theory: Skynet in the Market |year=2017 |publisher=[[Springer Science+Business Media|Springer]] |location=London |isbn=978-3-319-66104-9}}</ref> |