Mousavi, Shabnam; Gigerenzer, Gerd - In: Homo oeconomicus : HOE ; journal of behavioral and … 34 (2017) 4, pp. 361-379
limitations. Uncertainty is generally reduced to a form of risk, quantifiable in some probabilistic format. We challenge both … conceptualizations and connect heuristics and uncertainty in a functional way: When uncertainty does not lend itself to risk calculations …. This insight emerges from merging Knightian uncertainty with the study of fast-and-frugal heuristics. For many decision …