Looking from a business angle, BRACIL could also stand for Business Research and Applications with Computational Intelligence Laboratory.
Many economic theories are based on the assumption that people are perfectly rational. Herbert Simon pointed out that most people are only partly rational. He called them bounded rational, which means that they can only make the best decisions within their knowledge and resources. Ariel Rubinstein proposed to model bounded rationality by specifying decision making procedures. In BRACIL, we support this view, and focus on designing or evolving decision procedures. From a computational point of view, Computational Intelligence Determines one's Effective Rationality -- we refer to it as the CIDER Theory.
In BRACIL, we aim to push the rationality boundary through research in computational intelligence. Research in BRACIL can be grouped into two (overlapping) areas: