From the authors: "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 rationality in
cognitive science, economics, and animal behavior have tended to
view decision-makers as possessing supernatural powers of reason,
limitless knowledge, and an eternity in which to make choices. But
to understand decisions in the real world, we need a different, more
psychologically plausible notion of rationality. This book is about
fast and frugal heuristics - simple rules for making decisions with
realistic mental resources. These heuristics can enable both living
organisms and artificial systems to make smart choices,
classifications, and predictions by employing bounded rationality."
Additional information about this publication, including a
table of contents, back-cover reviews by Nobel laureates Herbert
Simon and Reinhard Selten, and links for ordering copies, can be
obtained at the
book web site.
Gerd Gigerenzer and Peter Todd are both with the Max Planck
Institute for Human Development, Center for Adaptive Behavior and
Cognition (ABC), in Berlin. The ABC is directed by Gigerenzer.