Simple Heuristics That Make Us Smart

Paperback | October 15, 2000

byGerd Gigerenzer, Peter M. ToddEditorABC Research Group

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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 ispressing 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, developingcomputational 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 stockmarket. 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 interestedin simply making good decisions.

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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 whic...

Dr. Gerd Gigerenzer is the Director of the Center for Adaptive Behavior and Cognition, Max Planck Institute for Human Development. Dr. Peter M. Todd is Research Scientist at the Max Planck Institute for Human Development.

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Format:PaperbackPublished:October 15, 2000Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195143817

ISBN - 13:9780195143812

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Table of Contents

The ABC Research GroupI. The Research Agenda1. Gerd Gigerenzer and Peter M. Todd: Fast and Frugal Heuristics: The Adaptive ToolboxII. Ignorance-Based Decision Making2. Daniel G. Goldstein and Gerd Gigerenzer: The Recognition Heuristic: How Ignorance Makes Us Smart3. Bernhard Borges et al.: Can Ignorance Beat the Stock Market?III. One-Reason Decision Making4. Gerd Gigerenzer and Daniel G. Goldstein: Betting on One Good Reason: The Take The Best Heuristic5. Jean Czerlinski, Gerd Gigerenzer, and Daniel G. Goldstein: How Good Are Simple Heuristics?6. Laura Martignon and Ulrich Hoffrage: Why Does One-Reason Decision Making Work? A Case Study in Ecological Rationality7. Jorg Rieskamp and Ulrich Hoffrage: When Do People Use Simple Heuristics, and How Can We Tell?8. Laura Martignon and Kathryn Blackmond Laskey: Bayesian Benchmarks for Fast and Frugal HeuristicsIV. Beyond Choice: Memory, Estimation, and Categorization9. Ulrich Hoffrage and Ralph Hertwig: Hindsight Bias: A Price Worth Paying for Fast and Frugal Memory10. Ralph Hertwig, Ulrich Hoffrage, and Laura Martignon: Quick Estimation: Letting the Environment Do the Work11. Patricia M. Berretty, Peter M. Todd, and Laura Martignon: Categorization by Elimination: Using Few Cues to ChooseV. Social Intelligence12. Philip W. Blythe, Peter M. Todd, and Geoffrey F. Miller: How Motion Reveals Intention: Categorizing Social Interactions13. Peter M. Todd and Geoffrey F. Miller: From Pride and Prejudice to Persuasion: Satisficing in Mate Search14. Jennifer Nerissa Davis and Peter M. Todd: Parental Investment by Simple Decision RulesVI. A Look Around, A Look Back, A Look Ahead15. Adam S. Goodie et al.: Demons versus Heuristics in Artificial Intelligence, Behavioral Ecology, and Economis16. Peter M. Todd and Gerd Gigerenzer: What We Have Learned (So Far)ReferencesName IndexSubject Index

Editorial Reviews

"Gigerenzer et al. take on a heroic effort of creating a grand theory of mind ..."--Contemporary Psychology, APA Review of Books