The standard, Bayesian account of rational belief and decision is often argued to be unable to cope properly with severe uncertainty, of the sort ubiquitous in some areas of policy making. This paper tackles the question of what should replace it as a guide for rational decision making. It...

Rethinking rationality / Gerd Gigerenzer and Reinhard Selten -- What is bounded rationality? / Reinhard Selten -- The adaptive toolbox / Gerd Gigerenzer -- Fast and frugal heuristics for environmentally bounded minds / Peter M. Todd -- Evolutionary adaptation and the economic concept of bounded...

Regret helps to optimize decision behaviour. It can be defined as a rational emotion. Several recent neurobiological studies have confirmed the interface between emotion and cognition at which regret is located and documented its role in decision behaviour. These data give credibility to the...