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.

About the Author

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.

"About this title" may belong to another edition of this title.

Store Description

Housing Works Used Book Cafe is an independent open bookstore in New York City that presents great used, new and antiquarian books, good coffee, the opportunity to hear from many of the best writers and performers in America and the chance to make a difference in the fight against AIDS and Homelessness, in New York City and the world. We are a non-profit bookstore relying on volunteers to help run the store. Housing Works provides housing, health care, job training and advocacy for people living with HIV and AIDS. Fighting AIDS One Book At A Time

Visit Seller's Storefront

Seller's business information

Housing Works Bookstore Cafe
126 Crosby Street, New York, NY, 10012, U.S.A.

Sale & Shipping Terms

Terms of Sale

We guarantee the condition of every book as described in our listings. We offer full refunds on books returned to us for any reason within 30 days. If you have any questions, please use the Ask Bookseller a Question link to contact us and we'll respond within 2 business days.

Shipping Terms

All books shipped USPS with delivery confirmation in the USA. Typically we ship media mail for $3.99, Priority for $7.99, packed in poly bags or bubble mailers. More valuable books and heavy items are wrapped and boxed. For international orders, we ship through Landmark Global.

Shipping rates within U.S.A.

Shipping rates within U.S.A.
Order quantity	7 to 14 business days	3 to 5 business days
First item	US$ 3.98	US$ 9.40

Delivery times are set by sellers and vary by carrier and location. Orders passing through Customs may face delays and buyers are responsible for any associated duties or fees. Sellers may contact you regarding additional charges to cover any increased costs to ship your items.