Economic Rationality in the Era of Artificial Intelligence

Abstract

Artificial intelligence offers new paths in economic decision-making as it augments human computational capacity. Nevertheless, the social context is problematically apprehended through AI as it overlooks the issue of social embeddedness and the interplay of the various evolving dimensions of economic phenomena. We aim to show here that economic rationality should be understood following the open system mode of thought in the sense that agents may learn and change while they evolve with their social environment.