Display Settings:

Format

Send to:

Choose Destination
See comment in PubMed Commons below
Psychol Rev. 1996 Oct;103(4):650-69.

Reasoning the fast and frugal way: models of bounded rationality.

Author information

  • 1Center for Adaptive Behavior and Cognition, Max Planck Institute for Psychological Research, Munich, Germany. giger@mpipf-muenchen.mpg.de

Abstract

Humans and animals make inferences about the world under limited time and knowledge. In contrast, many models of rational inference treat the mind as a Laplacean Demon, equipped with unlimited time, knowledge, and computational might. Following H. Simon's notion of satisfying, the authors have proposed a family of algorithms based on a simple psychological mechanism: one-reason decision making. These fast and frugal algorithms violate fundamental tenets of classical rationality: They neither look up nor integrate all information. By computer simulation, the authors held a competition between the satisfying "Take The Best" algorithm and various "rational" inference procedures (e.g., multiple regression). The Take The Best algorithm matched or outperformed all competitors in inferential speed and accuracy. This result in an existence proof that cognitive mechanisms capable of successful performance in the real world do not need to satisfy the classical norms of rational inference.

PMID:
8888650
[PubMed - indexed for MEDLINE]
PubMed Commons home

PubMed Commons

0 comments
How to join PubMed Commons

    Supplemental Content

    Full text links

    Icon for American Psychological Association
    Loading ...
    Write to the Help Desk