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In this study we introduce a new stochastic choice rule that categorizes objects in order to simplify the choice procedure. At any given trial, the decision maker deliberately randomizes over mental categories and chooses the best item according to her utility function within the realized...
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Computer Science. Bounded rationality, satisficing and heuristic search are just a few of his seminal ideas that pioneered … subjective expected utility theory and Bayesian theory, chapters discuss how he instead promoted the development of empirically …
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Rethinking rationality / Gerd Gigerenzer and Reinhard Selten -- What is bounded rationality? / Reinhard Selten -- The … -- Evolutionary adaptation and the economic concept of bounded rationality--a dialogue / Peter Hammerstein -- Group report : Is there … learning, and preparedness as mechanisms of bounded rationality / Kevin N. Laland -- Decision making in superorganisms : how …
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