How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … possess a toolkit of heuristics to make decisions under certainty, risk, subjective uncertainty, and true uncertainty (or … Knightian uncertainty). We outline recent advances in knowledge about the use of heuristics and departures from Bayesian …

ecological rationality research program, it presents the main factors that determine economic choices, before exploring the most … algorithms applied by people in decision-making processes, among which there are outstanding social concerns. Drawing these … elements together, the author presents a seminal model combining preferences and heuristics to explain choices in the …

also suggests new ways in which the theory might be developed to increase its predictive, analytic, and evaluative power …

, the quality of decision-making may differ at the market and macro levels from what has been observed in laboratory … choice theory as the reference point for judging the quality of real-world decisions. It argues that choice is an activity …

, the quality of decision-making may differ at the market and macro levels from what has been observed in laboratory … choice theory as the reference point for judging the quality of real-world decisions. It argues that choice is an activity …