Can rationality be measured?
  This paper studies whether rationality can be computed. Rationality is
defined as the use of complete information, which is processed with a perfect
biological or physical brain, in an optimized fashion. To compute rationality
one needs to quantify how complete is the information, how perfect is the
physical or biological brain and how optimized is the entire decision making
system. The rationality of a model (i.e. physical or biological brain) is
measured by the expected accuracy of the model. The rationality of the
optimization procedure is measured as the ratio of the achieved objective (i.e.
utility) to the global objective. The overall rationality of a decision is
measured as the product of the rationality of the model and the rationality of
the optimization procedure. The conclusion reached is that rationality can be
computed for convex optimization problems.
