Charles Taber and Milton Lodge provide compelling evidence that people's minds may be closed to information that is inconsistent with their prior beliefs. This type of inconsistency has often been termed ?irrational.? However, recent research suggests that being open or closed minded is not an unchanging variable but depends on one's goals, including one's need for closure, which vary from person to person and situation to situation. In this vein, as Taber and Lodge suggest, those who have more political information (...) may, after having been open minded enough to acquire the information, become closed minded by virtue of having acquired it. At the same time, being more open minded to inaccurate information might lead one in the wrong direction; hence, open mindedness does not necessarily enhance the accuracy of one's judgments or the quality of one's decisions. We may need to rethink the concept of an enlightened, well-informed electorate, to the extent that it assumes the unqualified benefits of open mindedness. (shrink)

Despite the ubiquity of uncertainty, scientific attention has focused primarily on probabilistic approaches, which predominantly rely on the assumption that uncertainty can be measured and expressed numerically. At the same time, the increasing amount of research from a range of areas including psychology, economics, and sociology testify that in the real world, people’s understanding of risky and uncertain situations cannot be satisfactorily explained in probabilistic and decision-theoretical terms. In this article, we offer a theoretical overview of an alternative approach to (...) uncertainty developed in the framework of the ecological rationality research program. We first trace the origins of the ecological approach to uncertainty in Simon’s bounded rationality and Brunswik’s lens model framework and then proceed by outlining a theoretical view of uncertainty that ensues from the ecological rationality approach. We argue that the ecological concept of uncertainty relies on a systemic view of uncertainty that features it as a property of the organism–environment system. We also show how simple heuristics can deal with unmeasurable uncertainty and in what cases ignoring probabilities emerges as a proper response to uncertainty. (shrink)

Automatic preferences can influence a decision maker’s choice before any relevant or meaningful information is available. We account for this element of human cognition in a computational model of problem solving that involves active trial and error and show that automatic biases are not just a beneficial or detrimental property: they are a tool that, if properly managed over time, can give rise to superior performance. In particular, automatic preferences are beneficial early on and detrimental at later stages. What is (...) more, additional value can be generated by a timely rebiasing, i.e., a calculated reversal of the initial automatic preference. Remarkably, rebiasing can dominate not only debiasing but also continuously unbiased decision making. This research contributes to the debate on the adaptiveness of automatic and intuitive biases, which has centered primarily on one-shot controlled laboratory experiments, by simulating outcomes across extended time spans. We also illustrate the value of the novel intervention of adopting the opposite automatic preference—something organizations can readily achieve by changing key decision makers—as opposed to attempting to correct for or simply accepting the ubiquity of such biases. (shrink)

We sought to gain more insight into the effects of attention focus and time constraints on skill learning and performance in novices and experts by means of two complementary experiments using a table tennis paradigm. Experiment 1 showed that skill-focus conditions and slowed ball frequency disrupted the accuracy of experts, but dual-task conditions and speeded ball frequency did not. For novices, only speeded ball frequency disrupted accuracy. In Experiment 2, we extended these findings by instructing novices either explicitly or by (...) analogy . Explicitly instructed novices were less accurate in skill-focused and dual-task conditions than in single-task conditions. Following analogy instruction novices were less accurate in the skill-focused condition, but maintained accuracy under dual-task conditions. Participants in both conditions retained accuracy when ball frequency was slowed, but lost accuracy when ball frequency was speeded, suggesting that not attention, but motor dexterity, was inadequate under high temporal constraints. (shrink)

Applying the framework of ecological rationality, the authors studied the adaptivity of group decision making. In detail, they investigated whether groups apply decision strategies conditional on their composition in terms of task‐relevant features. The authors focused on the recognition heuristic, so the task‐relevant features were the validity of the group members' recognition and knowledge, which influenced the potential performance of group strategies. Forty‐three three‐member groups performed an inference task in which they had to infer which of two German companies had (...) the higher market capitalization. Results based on the choice data support the hypothesis that groups adaptively apply the strategy that leads to the highest theoretically achievable performance. Time constraints had no effect on strategy use but did have an effect on the proportions of different types of arguments. Possible mechanisms underlying the adaptive use of recognition in group decision making are discussed. (shrink)

Group judgements are often – implicitly or explicitly – influenced by their members’ individual expertise. However, given that expertise is seldom recognized fully and that some distortions may occur (bias, correlation, etc.), it is not clear that differential weighting is an epistemically advantageous strategy with respect to straight averaging. Our paper characterizes a wide set of conditions under which differential weighting outperforms straight averaging and embeds the results into the multidisciplinary group decision-making literature.

How can we help people develop judgement and decision skills? One approach is to teach formal methods such as decision analyses, but these are difficult to apply in ill-structured settings, and the methods are unworkable when one is under time pressure and uncertain conditions. If we regard these skills as types of expertise that can be developed, then in a given domain we may attempt to define the cues, patterns, and strategies used by experts, and develop a programme to teach (...) people how to think like experts. However, in many settings this can be impractical. A different approach to decision skills training is to teach people how to learn like experts. By identifying a set of strategies used by experts to develop their proficiency at decision making, we can develop a programme aimed at helping people become reflective practitioners. This article describes such a training programme. (shrink)

The model proposed by Redish et al. considers vulnerabilities within decision systems based on expectancy-value assumptions. Further understanding of processes leading to addiction can be gained by considering other inputs to decision-making, particularly affective associations with behaviors. This consideration suggests additional decision-making vulnerabilities that might explain addictive behaviors.

The main goal of my paper is to argue that data compression is a necessary condition for intelligence. One key motivation for this proposal stems from a paradox about intuition and intelligence. For the purposes of this paper, it will be useful to consider playing board games—such as chess and Go—as a paradigm of problem solving and cognition, and computer programs as a model of human cognition. I first describe the basic components of computer programs that play board games, namely (...) value functions and search functions. I then argue that value functions both play the same role as intuition in humans and work in essentially the same way. However, as will become apparent, using an ordinary value function is just a simpler and less accurate form of relying on a database or lookup table. This raises our paradox, since reliance on intuition is usually considered to manifest intelligence, whereas usage of a lookup table is not. I therefore introduce another condition for intelligence that is related to data compression. This proposal allows that even reliance on a perfectly accurate lookup table can be nonintelligent, while retaining the claim that reliance on intuition can be highly intelligent. My account is not just theoretically plausible, but it also captures a crucial empirical constraint. This is because all systems with limited resources that solve complex problems—and hence, all cognitive systems—need to compress data. (shrink)

We argue that word meanings are not stored in a mental lexicon but are generated in the context of working memory from long-term memory traces that record our experience with words. Current statistical models of semantics, such as latent semantic analysis and the Topic model, describe what is stored in long-term memory. The CI-2 model describes how this information is used to construct sentence meanings. This model is a dual-memory model, in that it distinguishes between a gist level and an (...) explicit level. It also incorporates syntactic information about how words are used, derived from dependency grammar. The construction of meaning is conceptualized as feature sampling from the explicit memory traces, with the constraint that the sampling must be contextually relevant both semantically and syntactically. Semantic relevance is achieved by sampling topically relevant features; local syntactic constraints as expressed by dependency relations ensure syntactic relevance. (shrink)

PROBEX (PROBabilities from EXemplars), a model of probabilistic inference and probability judgment based on generic knowledge is presented. Its properties are that: (a) it provides an exemplar model satisfying bounded rationality; (b) it is a “lazy” algorithm that presumes no pre‐computed abstractions; (c) it implements a hybrid‐representation, similarity‐graded probability. We investigate the ecological rationality of PROBEX and find that it compares favorably with Take‐The‐Best and multiple regression (Gigerenzer, Todd, & the ABC Research Group, 1999). PROBEX is fitted to the point (...) estimates, decisions, and probability assessments by human participants. The best fit is obtained for a version that weights frequency heavily and retrieves only two exemplars. It is proposed that PROBEX implements speed and frugality in a psychologically plausible way. (shrink)

In rebellion against low‐dimensional (e.g., two‐factor) theories in psychology, the authors make the case for high‐dimensional theories. This change in perspective requires a shift towards a focus on computation and quantitative reasoning.

Conviction Narrative Theory (CNT) is a theory of choice underradical uncertainty– situations where outcomes cannot be enumerated and probabilities cannot be assigned. Whereas most theories of choice assume that people rely on (potentially biased) probabilistic judgments, such theories cannot account for adaptive decision-making when probabilities cannot be assigned. CNT proposes that people usenarratives– structured representations of causal, temporal, analogical, and valence relationships – rather than probabilities, as the currency of thought that unifies our sense-making and decision-making faculties. According to CNT, (...) narratives arise from the interplay between individual cognition and the social environment, with reasoners adopting a narrative that feels “right” to explain the available data; using that narrative to imagine plausible futures; and affectively evaluating those imagined futures to make a choice. Evidence from many areas of the cognitive, behavioral, and social sciences supports this basic model, including lab experiments, interview studies, and econometric analyses. We identify 12 propositions to explain how the mental representations (narratives) interact with four inter-related processes (explanation, simulation, affective evaluation, and communication), examining the theoretical and empirical basis for each. We conclude by discussing how CNT can provide a common vocabulary for researchers studying everyday choices across areas of the decision sciences. (shrink)

This study aimed to investigate the relationship between cognitive abilities and age differences in information search and the moderating role of task self-relevance by measuring the decision-making process of participants in both high and low self-relevance decision tasks. The participants were 57 young adults and 65 older adults who viewed five alternatives ☓ five attributes decision matrices in which they needed to open the information cells they wanted to explore by clicking the mouse. Processing speed, verbal fluency, working memory and (...) vocabulary were measured as cognitive abilities. The dependent variables were search engagement (including time-related engagement and frequency-related engagement) and search pattern (calculated based on alternative-based or attribute-based search). Results from a structured equation model showed that age negatively predicted these cognitive abilities (processing speed, verbal fluency, working memory and vocabulary), and positively predicted information searching engagement. Processing speed mediated the impact of age on study time per cell under tasks with both high and low self-relevance; whereas verbal fluency mediates total searching time and searching time per check only when the task is highly self-related, but not in the task with low self-relevance. These results suggested that self-relevance could moderate the mediation effect of verbal fluency on the relationship between age and information searching time, which means that older adults whose verbal fluency was limited need relatively more time to search information to make an informed decision. However, this impact is only sufficient when the decision task is highly self-related and draws more engagement motivation into it. (shrink)

Belief-credence dualism is the view that we have both beliefs and credences and neither attitude is reducible to the other. Pragmatic encroachment is the view that practical stakes can affect the epistemic rationality of states like knowledge or justified belief. In this paper, I argue that dualism offers a unique explanation of pragmatic encroachment cases. First, I explain pragmatic encroachment and what motivates it. Then, I explain dualism and outline a particular argument for dualism. Finally, I show how dualism can (...) explain the intuitions that underlie pragmatic encroachment. My basic proposal is that in high-stakes cases, it is not that one cannot rationally believe that p; instead, one ought not to rely on one's belief that p. One should rather rely on one's credence in p. I conclude that we need not commit ourselves to pragmatic encroachment in order to explain the intuitiveness of the cases that motivate it. (shrink)

In this article, I argue that faith’s going beyond the evidence need not compromise faith’s epistemic rationality. First, I explain how some of the recent literature on belief and credence points to a distinction between what I call B-evidence and C-evidence. Then, I apply this distinction to rational faith. I argue that if faith is more sensitive to B-evidence than to C-evidence, faith can go beyond the evidence and still be epistemically rational.

Subjective probability plays an increasingly important role in many fields concerned with human cognition and behavior. Yet there have been significant criticisms of the idea that probabilities could actually be represented in the mind. This paper presents and elaborates a view of subjective probability as a kind of sampling propensity associated with internally represented generative models. The resulting view answers to some of the most well known criticisms of subjective probability, and is also supported by empirical work in neuroscience and (...) behavioral psychology. The repercussions of the view for how we conceive of many ordinary instances of subjective probability, and how it relates to more traditional conceptions of subjective probability, are discussed in some detail. (shrink)

Some researchers on binary choice inference have argued that people make inferences based on simple heuristics, such as recognition, fluency, or familiarity. Others have argued that people make inferences based on available knowledge. To examine the boundary between heuristic and knowledge usage, we examine binary choice inference processes in terms of attribute substitution in heuristic use (Kahneman & Frederick, 2005). In this framework, it is predicted that people will rely on heuristic or knowledge‐based inference depending on the subjective difficulty of (...) the inference task. We conducted competitive tests of binary choice inference models representing simple heuristics (fluency and familiarity heuristics) and knowledge‐based inference models. We found that a simple heuristic model (especially a familiarity heuristic model) explained inference patterns for subjectively difficult inference tasks, and that a knowledge‐based inference model explained subjectively easy inference tasks. These results were consistent with the predictions of the attribute substitution framework. Issues on usage of simple heuristics and psychological processes are discussed. (shrink)

The effectiveness of decision rules depends on characteristics of both rules and environments. A theoretical analysis of environments specifies the relative predictive accuracies of the “take-the-best” heuristic (TTB) and other simple strategies for choices between two outcomes based on binary cues. We identify three factors: how cues are weighted; characteristics of choice sets; and error. In the absence of error and for cases involving from three to five binary cues, TTB is effective across many environments. However, hybrids of equal weights (...) (EW) and TTB models are more effective as environments become more compensatory. As error in the environment increases, the predictive ability of all models is systematically degraded. Indeed, using the datasets of Gigerenzer et al. (1999, Simple Heuristics That Make Us Smart, New York: Oxford University Press), TTB and similar models do not predict much better than a naïve model that exploits dominance. Finally, we emphasize that the results reported here are conditional on binary cues. (shrink)

Topics in Cognitive Science, Volume 14, Issue 3, Page 467-491, July 2022.

Using national opinion survey data, this research addressed claims in political science that the American electorate is either poorly informed or dependent on party label cues. The results suggested that in situations with missing information, American voters can use their knowledge to successfully infer political party membership of candidates and vote their own party interests.

We report on five experiments investigating response choices and response times to simple science questions that evoke student “misconceptions,” and we construct a simple model to explain the patterns of response choices. Physics students were asked to compare a physical quantity represented by the slope, such as speed, on simple physics graphs. We found that response times of incorrect answers, resulting from comparing heights, were faster than response times of correct answers comparing slopes. This result alone might be explained by (...) the fact that height was typically processed faster than slope for this kind of task, which we confirmed in a separate experiment. However, we hypothesize that the difference in response time is an indicator of the cause of the response choice. To support this, we found that imposing a 3-s delay in responding increased the number of students comparing slopes on the task. Additionally a significant proportion of students recognized the correct written rule , but on the graph task they incorrectly compared heights. Finally, training either with repetitive examples or providing a general rule both improved scores, but only repetitive examples had a large effect on response times, thus providing evidence of dual paths or processes to a solution. Considering models of heuristics, information accumulation models, and models relevant to the Stroop effect, we construct a simple relative processing time model that could be viewed as a kind of fluency heuristic. The results suggest that misconception-like patterns of answers to some science questions commonly found on tests may be explained in part by automatic processes that involve the relative processing time of considered dimensions and a priority to answer quickly. (shrink)

The previous papers raise a number of issues. How should we develop task typologies both to separate judgement from related cognitive tasks and to classify tasks within the judgement domain? Are there grounds for selecting between models of judgement when empirical tests fail to do so? What techniques can be used to find out more about the cognitive processes underlying judgement behaviour? I discuss these issues and give a brief assessment of the current state of play in this rapidly changing (...) area. (shrink)

Topics in Cognitive Science, Volume 14, Issue 3, Page 550-573, July 2022.

In this article we describe research methods that are used for the study of individual multiattribute evaluation processes. First we explain that a multiattribute evaluation problem involves the evaluation of a set of alternatives, described by their values on a number of alternatives. We discuss a number of evaluation strategies that may be applied to arrive at a conclusion about the attractiveness or suitability of the alternatives, and next introduce two main research paradigms in this area, structural modelling and process (...) tracing. We argue that the techniques developed within these paradigms all have their advantages and disadvantages, and conclude that the most promising technique to detect the true nature of the evaluation strategy used by a judge seems to be the analysis of verbal protocols. At the same time we think it is wise not to rely on just one technique, but to use a multimethod approach to the study of multiattribute evaluation processes whenever that is possible. (shrink)

Following Brunswik (1952), social judgement theorists have long relied on regression models to describe both an individual's judgements and the environment about which such judgements are made. However, social judgement theory is not synonymous with these compensatory, static, structural models. We compared the characterisations of physicians' judgements using a regression model with that of a non-compensatory process model (called fast and frugal). We found that both models fit the data equally well. Both models suggest that physicians use few cues, that (...) they disagree among themselves, and that their stated cue use is discrepant with the models' stated cue use. However, the fast and frugal model is easier to convey to physicians and is also more psychologically plausible. Implications for how social judgement theorists conceptualise the process of vicarious functioning are discussed. (shrink)

The purpose of this paper is to examine the normative interpretation of the fast-and-frugal research program and in particular to contrast it with the normative reading of rational choice theory and behavioral economics. The ecological rationality of fast-and-frugal heuristics is admittedly a form of normative naturalism – it derives what agents “ought” to do from that which “is” ecologically rational – and the paper will examine how this differs from the normative rationality associated with rational choice theory. I will also (...) attempt to assess the relative adequacy of normative ecological rationality. (shrink)

Research on moral judgment has been dominated by rationalist models, in which moral judgment is thought to be caused by moral reasoning. The author gives 4 reasons for considering the hypothesis that moral reasoning does not cause moral judgment; rather, moral reasoning is usually a post hoc construction, generated after a judgment has been reached. The social intuitionist model is presented as an alternative to rationalist models. The model is a social model in that it deemphasizes the private reasoning done (...) by individuals and emphasizes instead the importance of social and cultural influences. The model is an intuitionist model in that it states that moral judgment is generally the result of quick, automatic evaluations (intuitions). The model is more consistent than rationalist models with recent findings in social, cultural, evolutionary, and biological psychology, as well as in anthropology and primatology. (shrink)

The scope of a heuristic decision making rule is a product of its fit to the context, the extension to which a heuristic can be applied successfully. To achieve effective outcomes, decision makers may use a few heuristics with large scopes or many with narrow scopes. Through a directed review of the literature combined with ethnographic research, this paper contributes to the debate on the problem of scope in three types of heuristics, namely, multipliers, thresholds, and calends. The scope of (...) heuristic rules can be explored from different aspects, including the field in which a heuristic rule is applied and specific parameters that are used in a heuristic decision making process. The three types of heuristic rules we analyze were encountered in our ethnographic research, that was based on phenomenological interviews and observations. For these heuristics we discuss their scopes in through to the following organizing structures: the exploration of the adaptive tool-box, the role of ethnographic methodologies, and the categorization of heuristics. (shrink)

We experimentally investigate the disposition of decision makers to use case-based reasoning as suggested by Hume and formalized by case-based decision theory. Our subjects face a monopoly decision problem about which they have very limited information. Information is presented in a manner which makes similarity judgements according to the feature matching model of Tversky plausible. We provide subjects a “history” of cases. In the 2×2\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$2\times 2$$\end{document} between-subject design, we vary whether information (...) about the current market is given and whether immediate feedback about obtained profits is provided. The results provide support for the predictions of case-based decision theory, particularly when no immediate feedback is provided. (shrink)

The modelling of bounded rationality is currently pursued by approaches that exhibit a wide diversity of methodologies. This special issue collects five contributions that discuss different methodological aspects of these approaches. In our introduction, we map the variety of methodological positions with respect to three questions. First, what kinds of evidence do the respective approaches consider relevant for modelling bounded rationality? Second, what kind of modelling desiderata do the respective approaches focus on? And third, how do the respective approaches justify (...) the normative validity of bounded rationality? To broaden the picture, we not only discusss the five contributions of this issue, but also include relevant positions from the extant literature. (shrink)

Despite their popularity, dual process accounts of human reasoning and decision-making have come under intense scrutiny in recent years. Cognitive scientists and philosophers alike have come to question the theoretical foundations of the ‘standard view’ of dual process theory and have challenged the validity and relevance of evidence in support of it. Moreover, attempts to modify and refine dual process theory in light of these challenges have generated additional concerns about its applicability and refutability as a scientific theory. With these (...) concerns in mind, this paper provides a critical review of dual process theory in economics, focusing on its role as a psychological framework for decision modeling in behavioral economics and neuroeconomics. I argue that the influx of criticisms against dual process theory challenge the descriptive accuracy of dualistic decision models in economics. In fact, the case can be made that the popularity of dual process theory in economics has less to do with the empirical success of dualistic decision models, and more to do with the convenience that the dual process narrative provides economists looking to explain-away decision anomalies. This leaves behavioral economists and neuroeconomists with something of a dilemma: either they stick to their purported ambitions to give a realistic description of human decision-making and give up the narrative, or they revise and restate their scientific ambitions. (shrink)

In the debate between simple inference heuristics and complex decision mechanisms, we take a position squarely in the middle. A decision making process that extends to both naturalistic and novel settings should extend beyond the confines of this debate; both simple heuristics and complex mechanisms are cognitive skills adapted to and appropriate for some circumstances but not for others. Rather than ask `Which skill is better?'' it is often more important to ask `When is a skill justified?'' The selection and (...) application of an appropriate cognitive skill for a particular problem has both costs and benefits, and therefore requires the resolution of a tradeoff. In revisiting satisficing, we observe that the essence of satisficing is tradeoff. Unlike heuristics, which derive their justification from empirical phenomena, and unlike optimal solutions, which derive their justification by an evaluation of alternatives, satisficing decision-making derives its justification by an evaluation of consequences. We formulate and present a satisficing decision paradigm that has its motivation in Herbert Simon''s work on bounded rationality. We characterize satisficing using a cost–benefit tradeoff, and generate a decision rule applicable to both designing intelligent machines as well as describing human behavior. (shrink)

[Correction Notice: An erratum for this article was reported in Vol 109 of Psychological Review. Due to circumstances that were beyond the control of the authors, the studies reported in "Models of Ecological Rationality: The Recognition Heuristic," by Daniel G. Goldstein and Gerd Gigerenzer overlap with studies reported in "The Recognition Heuristic: How Ignorance Makes Us Smart," by the same authors and with studies reported in "Inference From Ignorance: The Recognition Heuristic". In addition, Figure 3 in the Psychological Review article (...) was originally published in the book chapter and should have carried a note saying that it was used by permission of Oxford University Press.] One view of heuristics is that they are imperfect versions of optimal statistical procedures considered too complicated for ordinary minds to carry out. In contrast, the authors consider heuristics to be adaptive strategies that evolved in tandem with fundamental psychological mechanisms. The recognition heuristic, arguably the most frugal of all heuristics, makes inferences from patterns of missing knowledge. This heuristic exploits a fundamental adaptation of many organisms: the vast, sensitive, and reliable capacity for recognition. The authors specify the conditions under which the recognition heuristic is successful and when it leads to the counter-intuitive less-is-more effect in which less knowledge is better than more for making accurate inferences. (shrink)

We propose another positive illusion that fits with McKay & Dennett's (M&D's) criteria for adaptive misbeliefs. This illusion is pervasive in adult reasoning but we focus on its prevalence in children's developing theories. It is a strongly held conviction arising from normal functioning of the doxastic system that confers adaptive advantage on the individual.

The paper shows why and how an empirical study of fast-and-frugal heuristics can provide norms of good reasoning, and thus how (and how far) rationality can be naturalized. We explain the heuristics that humans often rely on in solving problems, for example, choosing investment strategies or apartments, placing bets in sports, or making library searches. We then show that heuristics can lead to judgments that are as accurate as or even more accurate than strategies that use more information and computation, (...) including optimization methods. A standard way to defend the use of heuristics is by reference to accuracy-effort trade-offs. We take a different route, emphasizing ecological rationality (the relationship between cognitive heuristics and environment), and argue that in uncertain environments, more information and computation are not always better (the “less-can-be-more” doctrine). The resulting naturalism about rationality is thus normative because it not only describes what heuristics people use, but also in which specific environments one should rely on a heuristic in order to make better inferences. While we desist from claiming that the scope of ecological rationality is unlimited, we think it is of wide practical use. (shrink)

Heuristics are efficient cognitive processes that ignore information. In contrast to the widely held view that less processing reduces accuracy, the study of heuristics shows that less information, computation, and time can in fact improve accuracy. We review the major progress made so far: the discovery of less-is-more effects; the study of the ecological rationality of heuristics, which examines in which environments a given strategy succeeds or fails, and why; an advancement from vague labels to computational models of heuristics; the (...) development of a systematic theory of heuristics that identifies their building blocks and the evolved capacities they exploit, and views the cognitive system as relying on an “adaptive toolbox;” and the development of an empirical methodology that accounts for individual differences, conducts competitive tests, and has provided evidence for people’s adaptive use of heuristics. Homo heuristicus has a biased mind and ignores part of the available information, yet a biased mind can handle uncertainty more efficiently and robustly than an unbiased mind relying on more resource-intensive and general-purpose processing strategies. (shrink)

Axiomatic rationality is defined in terms of conformity to abstract axioms. Savage limited axiomatic rationality to small worlds, that is, situations in which the exhaustive and mutually exclusive set of future states S and their consequences C are known. Others have interpreted axiomatic rationality as a categorical norm for how human beings should reason, arguing in addition that violations would lead to real costs such as money pumps. Yet a review of the literature shows little evidence that violations are actually (...) associated with any measurable costs. Limiting axiomatic rationality to small worlds, I propose a naturalized version of rationality for situations of intractability and uncertainty, all of which are not in. In these situations, humans can achieve their goals by relying on heuristics that may violate axiomatic rationality. The study of ecological rationality requires formal models of heuristics and an analysis of the structures of environments these can exploit. It lays the foundation of a moderate naturalism in epistemology, providing statements about heuristics we should use in a given situation. Unlike axiomatic rationality, ecological rationality can explain less-is-more effects, formalize when one should move from ‘is’ to ‘ought,’ and be evaluated by goals beyond coherence, such as predictive accuracy, frugality, and efficiency. Ecological rationality can be seen as a formalization of means–end instrumentalist rationality, based on Herbert Simon’s insight that rational behavior is a function of the mind and its environment. (shrink)