Précis of Simple heuristics that make us smart.

  title={Pr{\'e}cis of Simple heuristics that make us smart.},
  author={Peter M. Todd and Gerd Gigerenzer},
  journal={The Behavioral and brain sciences},
  volume={23 5},
  pages={727-41; discussion 742-80}
How can anyone be rational in a world where knowledge is limited, time is pressing, and deep thought is often an unattainable luxury? Traditional models of unbounded rationality and optimization in cognitive science, economics, and animal behavior have tended to view decision-makers as possessing supernatural powers of reason, limitless knowledge, and endless time. But understanding decisions in the real world requires a more psychologically plausible notion of bounded rationality. In Simple… CONTINUE READING
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