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Bounded rationality : the adaptive toolbox / edited by G. Gigerenzer and R. Selten.

Contributor(s): Gigerenzer, Gerd | Selten, Reinhard | Dahlem Workshop on Bounded Rationality (1999 : Berlin, Germany).
Material type: materialTypeLabelBookPublisher: Cambridge, Mass. : MIT Press, 2002Edition: 1st MIT Press paperback ed.Description: xv, 377 p. : ill. ; 24 cm.ISBN: 0262571641 (pbk.); 9780262571647.Subject(s): Decision making -- Congresses | Reasoning -- Congresses | Aspirations (Psychology) -- Congresses | Psychology | Rationalization -- Congresses | Cognition & cognitive psychology | Models, Psychological | Corporate governance: role & responsibilities of boards & directors | Decision Making -- Congresses | Economic theory & philosophyGenre/Form: Online resources.DDC classification: 153.83 BOU Also available via the World Wide Web.
Contents:
Rethinking rationality / Gerd Gigerenzer and Reinhard Selten -- What is bounded rationality? / Reinhard Selten -- The adaptive toolbox / Gerd Gigerenzer -- Fast and frugal heuristics for environmentally bounded minds / Peter M. Todd -- Evolutionary adaptation and the economic concept of bounded rationality--a dialogue / Peter Hammerstein -- Group report : Is there evidence for an adaptive toolbox? / Abdolkarim Sadrieh ... [et al.] -- The fiction of optimization / Gary Klein -- Preferential choice and adaptive strategy use / John W. Payne and James R. Bettman -- Comparing fast and frugal heuristics and optimal models / Laura Martignon -- Group report : Why and when do simple heuristics work? / Daniel G. Goldstein ... [et al.] -- Emotions and cost-benefit assessment : the role of shame and self-esteem in risk taking / Daniel M.T. Fessler -- Simple reinforcement learning models and reciprocation in the prisoner's dilemma game / Ido Erev and Alvin E. Roth -- Imitation, social learning, and preparedness as mechanisms of bounded rationality / Kevin N. Laland -- Decision making in superorganisms : how collective wisdom arises from the poorly informed masses / Thomas D. Seeley --Group report : Effects of emotions and social processes on bounded rationality / Barbara A. Mellers ... [et al.] -- Norms and bounded rationality / Robert Boyd and Peter J. Richerson -- Prominence theory as a tool to model boundedly rational decisions / Wulf Albers -- Goodwill accounting and the process of exchange / Kevin A. McCabe and Vernon L. Smith -- Group report : What is the role of culture in bounded rationality? / Joseph Henrich ... [et al.].
Summary: This work extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and shows how smart strategies can exploit the structures of environments.
Holdings
Item type Current library Call number Copy number Status Barcode
General lending MTU Kerry North Campus Library Ground Floor Main 153.83 BOU (Browse shelf(Opens below)) 1 Available 38888000536338
Total holds: 0

Enhanced descriptions from Syndetics:

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.

Report of the 84th Dahlem Workshop on Bounded Rationality: The Adaptive Toolbox, Berlin, March 14-19, 1999.

Includes bibliographical references and indexes.

Rethinking rationality / Gerd Gigerenzer and Reinhard Selten -- What is bounded rationality? / Reinhard Selten -- The adaptive toolbox / Gerd Gigerenzer -- Fast and frugal heuristics for environmentally bounded minds / Peter M. Todd -- Evolutionary adaptation and the economic concept of bounded rationality--a dialogue / Peter Hammerstein -- Group report : Is there evidence for an adaptive toolbox? / Abdolkarim Sadrieh ... [et al.] -- The fiction of optimization / Gary Klein -- Preferential choice and adaptive strategy use / John W. Payne and James R. Bettman -- Comparing fast and frugal heuristics and optimal models / Laura Martignon -- Group report : Why and when do simple heuristics work? / Daniel G. Goldstein ... [et al.] -- Emotions and cost-benefit assessment : the role of shame and self-esteem in risk taking / Daniel M.T. Fessler -- Simple reinforcement learning models and reciprocation in the prisoner's dilemma game / Ido Erev and Alvin E. Roth -- Imitation, social learning, and preparedness as mechanisms of bounded rationality / Kevin N. Laland -- Decision making in superorganisms : how collective wisdom arises from the poorly informed masses / Thomas D. Seeley --Group report : Effects of emotions and social processes on bounded rationality / Barbara A. Mellers ... [et al.] -- Norms and bounded rationality / Robert Boyd and Peter J. Richerson -- Prominence theory as a tool to model boundedly rational decisions / Wulf Albers -- Goodwill accounting and the process of exchange / Kevin A. McCabe and Vernon L. Smith -- Group report : What is the role of culture in bounded rationality? / Joseph Henrich ... [et al.].

This work extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and shows how smart strategies can exploit the structures of environments.

Also available via the World Wide Web.

Table of contents provided by Syndetics

  • List of Participants
  • 1 Rethinking Rationality
  • 2 What is Bounded Rationality?
  • 3 The Adaptive Toolbox
  • 4 Fast and Frugal Heuristics for Environmentally Bounded Minds
  • 5 Evolutionary Adaptation and the Economic Concept of Bounded Rationality -- A Dialogue
  • 6 Group Report: Is there Evidence for an Adaptive Toolbox?
  • 7 The Fiction of Optimization
  • 8 Preferential Choice and Adaptive Strategy Use
  • 9 Comparing Fast and Frugal Heuristics and Optimal Models
  • 10 Group Report: Why and When Do Simple Heuristics Work?
  • 11 Emotions and Cost-benefit Assessment: The Role of Shame and Self-esteem in Risk taking
  • 12 Simple Reinforcement Learning Models and Reciprocation in the Prisoner's Dilemma Game
  • 13 Imitation, Social Learning, and Preparedness as Mechanisms of Bounded Rationality
  • 14 Decision Making in Superorganisms: How Collective Wisdom Arises from the Poorly Informed Masses
  • 15 Group Report: Effect of Emotions and Social Processes on Bounded Rationality
  • 16 Norms and Bounded Rationality
  • 17 Prominence Theory as a Tool to Model Boundedly Rational Decisions
  • 18 Goodwill Accounting and the Process of Exchange
  • 19 Group Report: What is the Role of Culture in Bounded Rationality?
  • Subject Index
  • Name Index

Author notes provided by Syndetics

Gerd Gigerenzer is Director at the Max Planck Institute for Human Development, Berlin. 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.

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