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  1. Reasoning the fast and frugal way: Models of bounded rationality.Gerd Gigerenzer & Daniel G. Goldstein - 1996 - Psychological Review 103 (4):650-669.
    Humans and animals make inferences about the world under limited time and knowledge. In contrast, many models of rational inference treat the mind as a Laplacean Demon, equipped with unlimited time, knowledge, and computational might. Following H. Simon's notion of satisficing, the authors have proposed a family of algorithms based on a simple psychological mechanism: one-reason decision making. These fast and frugal algorithms violate fundamental tenets of classical rationality: They neither look up nor integrate all information. By computer simulation, the (...)
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  • New perspectives for motivating better decisions in older adults.JoNell Strough, Wändi Bruine de Bruin & Ellen Peters - 2015 - Frontiers in Psychology 6:134465.
    Decision-making competence in later adulthood is affected by declines in cognitive skills, and age-related changes in affect and experience can sometimes compensate. However, recent findings suggest that age-related changes in motivation also affect the extent to which adults draw from experience, affect, and deliberative skills when making decisions. To date, relatively little attention has been given to strategies for addressing age-related changes in motivation to promote better decisions in older adults. To address this limitation, we draw from diverse literatures to (...)
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