“…In this study, we use an information-theoretic model of bounded rational decision-making Braun, 2012, 2013;Braun and Ortega, 2014; that has precursors in the economic literature (McKelvey and Palfrey, 1995;Mattsson and Weibull, 2002;Sims, 2003Sims, , 2005Sims, , 2006Sims, , 2010Wolpert, 2006) and that is closely related to recent advances in the information theory of perception-action systems (Todorov, 2007(Todorov, , 2009Still, 2009;Friston, 2010;Peters et al, 2010;Tishby and Polani, 2011;Daniel et al, 2012Daniel et al, , 2013Kappen et al, 2012;Rawlik et al, 2012;Rubin et al, 2012;Neymotin et al, 2013;Tkačik and Bialek, 2014;Palmer et al, 2015). The basis of this approach is formalized by a free energy principle that trades off expected utility, and the cost of computation that is required to adapt the system accordingly in order to achieve high utility.…”