If we want to apply it to humans, something much more complicated than that, which uses some measure of how complex humans see actions, takes into account how and when we search for alternate solutions. There’s a reason most models don’t use bounded rationality; it ain’t simple.
What could be a better measure of the bounded rationality? A Kolmogorov complexity of the solution? Or a number of computations made for the answer?
If we want to apply it to humans, something much more complicated than that, which uses some measure of how complex humans see actions, takes into account how and when we search for alternate solutions. There’s a reason most models don’t use bounded rationality; it ain’t simple.