Bounded Rationality

The Adaptive Toolbox
Erscheinungsjahr 2002
ISBN: 978-0-262-57164-7
Verlag: MIT Press

Buch, Englisch, 394 Seiten, Paperback, Format (B × H): 152 mm x 229 mm, Gewicht: 569 g

Reihe: Dahlem Workshop Reports

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.

Autoren/Hrsg.

Gigerenzer, Gerd

Selten, Reinhard

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Wirtschaftstheorie, Wirtschaftsphilosophie
• Sozialwissenschaften Psychologie Allgemeine Psychologie Kognitionspsychologie Intelligenz, Denken, Problemlösen

Über Autor(innen)

Selten, Reinhard
The late Reinhard Selten was Professor at the University of Bonn and was a co-winner of the 1994 Nobel Prize in Economics.

Gigerenzer, Gerd
Gerd Gigerenzer is Director of the Harding Center for Risk Literacy at the Max Planck Institute for Human Development in Berlin and Partner in Simply Rational—The Institute for Decisions. He is the author of Calculated Risks, among other books, and the coeditor of Bounded Rationality: The Adaptive Toolbox and Heuristics and the Law, both published by the MIT Press.

Reinhard Selten is Professor at the University of Bonn. He is a cowinner of the 1994 Nobel Prize in Economics.