Bounded rationality: The adaptive toolbox (2001)
Authors
Abstract
How can one be rational in a world in which knowledge is limited, time is pressing, and decision-making experts are often unavailable? This talk ventures into a realm of rationality different from the familiar one we know from many stories in cognitive science and economics-tales in which humans live in a world with unlimited time and knowledge, where the sun of enlightenment shines down in beams of logic and probability. I argue that rationality can be found in the use of fast and frugal heuristics. These tools of the 'adaptive toolbox' are successful to the degree that they are ecologically rational, that is, adapted to the structure of environments, past and present, physical and social.
Bibliographic entry
Gigerenzer, G., & Selten, R. (Eds.). (2001). Bounded rationality: The adaptive toolbox. Cambridge, Mass.: MIT Press.
Miscellaneous
| Publication year | 2001 | |
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| Document type: | Book | |
| Publication status: | Published | |
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