Bounded rationality : the adaptive toolbox

Resource Information

The work Bounded rationality : the adaptive toolbox represents a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries. This resource is a combination of several types including: Work, Language Material, Books.

Label

Bounded rationality : the adaptive toolbox

Title remainder

the adaptive toolbox

Statement of responsibility

edited by G. Gigerenzer and R. Selten

Contributor

• Gigerenzer, Gerd
• Selten, Reinhard

Subject

• Aanpassing
• Aspirations, Psychological
• Besluitvorming
• COGNITIVE SCIENCES/General
• COGNITIVE SCIENCES/Psychology/Cognitive Psychology
• Conference papers and proceedings
• Congress
• Congressen (vorm)
• Decision Making
• Decision making
• Decision making -- Congresses
• Electronic books
• Models, Psychological
• PSYCHOLOGY -- Cognitive Psychology
• Psychology
• Rationaliteit
• Rationalization
• Reasoning
• Reasoning -- Congresses
• Redeneren
• SCIENCE -- Cognitive Science
• Social Sciences

Genre

• Conference papers and proceedings
• Congress
• Congressen (vorm)
• Congresses
• Electronic books

Language

eng

Summary

In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning.This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart heuristics can exploit the structure of environments

Cataloging source

N$T

Dewey number

153.4/3

Illustrations

illustrations

Index

index present

Language note

English

LC call number

BF448

LC item number

.B67 2001eb

Literary form

non fiction

Nature of contents

• dictionaries
• bibliography