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)

Is cognition an exclusive property of the individual or can groups have a mind of their own? We explore this question from the perspective of complex adaptive systems. One of the principal insights from this line of work is that rules that govern behavior at one level of analysis can cause qualitatively different behavior at higher levels. We review a number of behavioral studies from our lab that demonstrate how groups of people interacting in real-time can self-organize into adaptive, problem-solving (...) group structures. A number of principles are derived concerning the critical features of such “distributed” information processing systems. We suggest that while cognitive science has traditionally focused on the individual, cognitive processes may manifest at many levels including the emergent group-level behavior that results from the interaction of multiple agents and their environment. (shrink)