Simple Heuristics That Make Us Smart invites readers to embark on a new journey into a land of rationality that differs from the familiar territory of cognitive science and economics. Traditional views of rationality tend to see decision makers as possessing superhuman powers of reason, limitless knowledge, and all of eternity in which to ponder choices. To understand decisions in the real world, we need a different, more psychologically plausible notion of rationality, and this book provides it. It is about (...) fast and frugal heuristics--simple rules for making decisions when time is pressing and deep thought an unaffordable luxury. These heuristics can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality. But when and how can such fast and frugal heuristics work? Can judgments based simply on one good reason be as accurate as those based on many reasons? Could less knowledge even lead to systematically better predictions than more knowledge? Simple Heuristics explores these questions, developing computational models of heuristics and testing them through experiments and analyses. It shows how fast and frugal heuristics can produce adaptive decisions in situations as varied as choosing a mate, dividing resources among offspring, predicting high school drop out rates, and playing the stock market. As an interdisciplinary work that is both useful and engaging, this book will appeal to a wide audience. It is ideal for researchers in cognitive psychology, evolutionary psychology, and cognitive science, as well as in economics and artificial intelligence. It will also inspire anyone interested in simply making good decisions. (shrink)

Traditional views of rationality posit general-purpose decision mechanisms based on logic or optimization. The study of ecological rationality focuses on uncovering the “adaptive toolbox” of domain-specific simple heuristics that real, computationally bounded minds employ, and explaining how these heuristics produce accurate decisions by exploiting the structures of information in the environments in which they are applied. Knowing when and how people use particular heuristics can facilitate the shaping of environments to engender better decisions.

In a series of five experiments, we demonstrate that moral judgments and folk intuitions are often predictably fragmented. Drawing on the domains of ethics and action theory, we illustrate ways in which judgment tends to be associated with stable individual differences such as personality traits and reflective cognitive styles. We argue that these individual differences pose several unique challenges as well as provide opportunities for further theoretical development in the emerging field of experimental philosophy. Implications are briefly discussed.

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)

Our theoretical understanding of individual differences can be used as a tool to test and refine theory. Individual differences are useful because judgments, including philosophically relevant intuitions, are the predictable products of the fit between adaptive psychological mechanisms (e.g., heuristics, traits, skills, capacities) and task constraints. As an illustration of this method and its potential implications, our target article used a canonical, representative, and affectively charged judgment task to reveal a relationship between the heritable personality trait extraversion and some compatabilist (...) judgments. In the current Reply, we further clarify major theoretical implications of these data and outline potential opportunities and obstacles for this methodology. Discussion focuses on (1) the need for theoretically grounded a priori predictions; (2) the use of precise process level data and theory; (3) the possibility of convergent validity as personality is known to predict life experiences and outcomes; and (4) the fundamentally adaptive nature of cognition. (shrink)